Banksy's work of street art 'Girl with a Balloon' is to be taken from its London wall by Sincura Group, the company responsible for removing another of the artist's pieces and selling it for a fortune last year. Though some argue that it is right to leave what is arguably one of Banksy's most instantly recognisable pieces on its Great Eastern Street wall, Sincura claims that the paintwork is "rotting."

Banksy NY Residency
Banksy Recently Took His Work To The Streets Of New York.

The piece, which depicts a young girl carrying a red balloon in the wind, has been on the North London wall for more than 10 years and has experienced damage due to peeling paint and is currently partially concealed behind boards. "This piece has been completely forgotten about and thousands of commuters walk past it every day," said Tony Baxter, a director at the events company, via Sky News.

The director said that the work would be removed by Sunday and added "It's a very iconic piece." He explained that the painting would be carefully removed and restored before being sold for about £500,00, according to BBC News.

Baxter did say that money made from the sale of the mural will go to the owner of the building and added that a donation would also be made to charity.

What about Banksy's month-long residency in NYC?

The website Stealing Banksy, which is also behind the removal, issued the following statement: "Though we have no doubt that Banksy does not appreciate his illegally painted artwork being lifted from the streets, we would like to think that he values the fact that his work is being restored to its former glory and that substantial contributions are made to charities."

Banksy Painting Chimp
The Artist Is Well-Versed In Courting Controversy With His Graffiti Pieces.

The anonymous British artist's work is known to consistently sell for considerable amounts of money, with a Hollywood petrol station stencil selling for £129,000 whilst the 'Slave Labour' mural auctioned for £675,000 - the highest ever paid for a Banksy in a London auction.

A spokesman for Banksy declined to comment.