View all newsletters
Have the short, sharp Spear's newsletter delivered to your inbox each week
  1. Impact Philanthropy
July 31, 2014updated 11 Jan 2016 1:45pm

Millionaire steps in to save local Banksy artwork

By Spear's

Author: Aoife Moriarty

Banksy’s ‘Spy Booth’, near GCHQ in Gloucestershire, was inspired by last year’s global surveillance scandal. It is now beloved of the town’s art appreciating inhabitants. However, it is also painted onto the wall of a terraced house, with the owners keen to sell the work for ‘at least £650,000’.

Yesterday, a stop notice which prevented the removal of the wall for 28 days expired. That’s when millionaire businessman Hekmat Kaveh stepped in, saying he would buy the Banksy to ensure it stayed where it was, to the grateful hoorahs of the local ‘Save the Banksy’ group.

The educationalist and property developer told The Gloucestershire Echo: ‘Having spoken to many people over the last few weeks, and read many comments on social media, I have concluded that there is a very strong feeling about this work.

‘It seems that Cheltenham generally is in support of not only retaining the Banksy in town, but in its current location, where it was clearly intended to be.’

The entrepreneur hopes to turn the site of the graffitied artwork into a museum exploring the history of GCHQ, but said its exact location would depend on the outcome of a thorough consultation process.

Read our recent feature on heritage philanthropy by William Cash here.

Content from our partners
Abu Dhabi Finance Week in the 'Capital of Capital'
Experience Seekers: The Future of Luxury Travel
How Hamblin Family Law is exploring a groundbreaking pricing model

Select and enter your email address The short, sharp email newsletter from Spear’s
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network