The artwork is now to be auctioned by the Sincura Group - the same company which arranged the sale of Banksy's "Slave Labour" in May.
The Sincura Group claims the street graffiti has been "salvaged for renovation" and is now under their management. A statement on its website reads:
"A number of attempts have been made over the past to deface the piece...
"With extensive building works taking place in the local vicinity, and further concerns upon its safety, the piece has been removed to be sensitively restored to its former glory."
It added that it intends to sell the artwork, created by street artist Banksy in 2009, next year and in the meantime it has been "gifted" to a local charity.
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