A millionaire from Cheltenham has been revealed as the man behind a £100,000 donation to keep the Banksy art work in Cheltenham.

Hekmat Kaveh, 55, who was also behind a £660,000 community bid to buy the Axiom art centre this year, has donated the money to the community group trying to keep it in the town.

The group launched the fundraising campaign two weeks ago after scaffolding went up around the painting, prompting fears it might be sold.

They have to raise £1 million or match a seven-figure offer to the house owner David Possee from an American collector keen to bring it overseas.

Mr Kaveh also promised to match fund any amount another business might put in to. He hopes his donation will be the catalyst for more people to come forward.

“I hope this means more people can take that step,” the father of three told the Echo yesterday.

“There are some wealthy people in Cheltenham and I’m sure many of them will be able to help.

“I don’t think we can raise that money through collections on the street, as good as those intentions are.

“It’s more likely if business people came together to make their donations. People should give back to their community, and that is what I’m doing.”

The group, led by businesswoman Angela De Souza, met last night to discuss the group’s next step.

Before Mr Kaveh’s donation, the group received a £10,000 donation from an anonymous businessman from the Chamber of Commerce.

A further £5,000 has also been raised from other smaller donations.

Part of the group’s plans include changing the house into a museum about GCHQ, called the Spy Centre.

Mr Kaveh believes the idea of the museum will take off.

He said: “I just absolutely love the idea of a museum and what that could mean for Cheltenham.

“I think it’s brilliant, and will do a lot for Cheltenham by drawing people to the town.

“Of course the mural already draws a lot of people here, but I think the museum will add to that.

“The painting was designed for Cheltenham, and it has to stay here. It will mean nothing if it is moved elsewhere.”

Last week, Cheltenham Borough Council issued a temporary stop notice to halt the work to remove the art work because the house is a Grade II listed building.

Mr De Souza said: “This latest development is a very welcome turn of events and gives us some breathing space while the campaign enters a very exciting phase.

“We have asked our solicitor to consider the impact of the service of the stop notice and we will be meeting to decide an action plan that I believe will see our Banksy stay in Cheltenham where it belongs.”

Robin Barton, from the Bankrobber Gallery in London, is brokering a deal to sell the artwork and said the stop notice is being appealed by Mr Possee.

He said the owner is enlisting the help of heritage surveyors to decided whether the house deserves its listed status.