The Manor of Eaton was mentioned in the Doomsday Book. It was not until much later that Water was added to the name. The area was assessed as 10 hides. One hide was equal to approximately 120 acres and included Bletchley and Fenny Stratford. The Manor House was in the area known as Saffron Gardens and had fish ponds.
Also a mill is mentioned, though it is uncertain whether it is the mill shown here.
The village is about half a mile away and up to the early nineteen hundreds was primarily agricultural. With the coming of the canal in 1800 wharfs were built there. Then the railway took people away from the land. The brickworks followed and Saffron Street was built to house the workers in the 1920s and 1930s. Now the whole area has been built on with houses and factories.