He was a lawyer of the Inner Temple in London, had been treasurer to James I and was a major property owner in South and West Devon.

Following the death of his only child, Walter, at the age of 11, Hele decided to bequeath a number of his estates for "some godly purposes and charitable uses".

[1] The Government made to the inhabitants of Exeter a grant of £1500 for the building of a boys' school, with a further £300 a year for its continual maintenance.

In 1938 plans were mooted to relocate the school to Quarry Lane in Heavitree, but these were put in abeyance due to the Second World War.

The school's sixth form was also abolished, with pupils moving to Exeter College on completion of GCE O Levels.

Considerable remodelling of the school building took place and the Annex was abandoned and later demolished to make way for a housing development.