Gerard Molyneux has kindly supplied the following information.
"...my grandmother was the great granddaughter of Sir Thomas Phillipps, who had bought the house in 1867 for £12,000. Previously he had rented the house from 1863 for £400p.a. The house was sold by my 2nd cousin Alan Fenwick to Cheltenham College in 1947."
"here is another photo which must have been taken after the death of my great, great, great grandfather, Sir Thomas Phillipps Bt., who died on 6th February 1872, because it shows his funerary hatchment above the front door, which would have remained in situ for the year."