Heligoland after the Treaty of Versailles

Is it possible for Britain and France to squeeze Heligoland out of Germany with the Treaty of Versailles after WWI? The island is rather well-placed as a naval base for operations against Germany, and was technically British until 1890. So, if at the end of WWI, this island were returned to Britain, what effect would this have on the interwar period? Would the Nazi Party or other German nationalists secure it without bloodshed as the Rhineland was? Or would it remain British until the outbreak of hostilities between Britain and the Third Reich? And, if so, could the British hold onto the island and use it as an airbase for fighters supporting RAF operations over Germany?
 
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