Banksy's iconic 'Girl with Balloon' masterpiece 'stolen' from London gallery in art heist: Two men appear in court charged with burglary

One of Banksy's most iconic works, Girl with Balloon, has been stolen from a London gallery, with two men charged with burglary.

The work, with an estimated value of up to £200,000, was taken in a heist of Grove Gallery over the weekend, with Larry Fraser, 47 , and James Love, 53, arrested after a police investigation.

Girl with Balloon was recovered following the probe by detectives from the Metropolitan Police's Flying Squad, Girl with Balloon is set to be returned.

Fraser, of Beckton, East London, and Love, from North Stifford, Essex, were charged on Thursday, September 11, with non-residential burglary and remanded in Police Custody.

Both appeared at Wimbledon Magistrates' Court on Thursday, September 12, where they were bailed to next appear at Kingston Crown Court on Wednesday, October 9.

The investigation was launched after a burglary the New Cavendish Street site, at around 11pm on Sunday, September 8.

The gallery had been hosting a Banksy exhibition, titled 'Breakout: Banksy's London Rebellion', which ended on Saturday.

A Met Police statement confirmed Banksy's Girl with Balloon was the only item stolen and it has now been recovered and will be returned to the gallery.

The work, depicting a young girl in black graffiti who has just let go of a red heart-shaped balloon, is one of the street artist's most recognisable pieces.

It was first seen in Waterloo's South Bank in 2002 next to the quotation: 'There is always hope.'

It follows a spree of Banksy paintings appearing in the capital, a number of which were defaced over summer.

One mural - which depicts two elephants poking their head out of white windows - popped up in Chelsea in London a week ago but has already been defaced with grey stripes.

Located on Edith Grove, the painting marked the second of nine animal-themed artworks to appear in the capital by the elusive artist.

Banksy's rhino mural in Charlton was also destroyed with spray paint in August, while the artist's lone wolf on a satellite dish in Peckham mysteriously disappeared.

Footage emerged showing the shocking moment the artwork was dismantled before being carried away.

A group of hooded men wearing facemasks and gloves were spotted scaling the building, removing the satellite dish, and walking off.

A spokesperson for Banksy previously said the artist was neither connected to nor endorsed the theft of the wolf artwork and that they had 'no knowledge as to the dish's current whereabouts'.