Police have arrested a 62-year-old man with the murder of an elderly widower on the Gold Coast almost three decades ago.

Key points: 89-year-old Hugo Benscher was found dead at his Paradise Point home almost 28 years ago

89-year-old Hugo Benscher was found dead at his Paradise Point home almost 28 years ago A 62-year-old man from Tasmania has been charged with his murder

A 62-year-old man from Tasmania has been charged with his murder Police have repeated a public appeal for more information with a $250,000 reward offered

Eighty-nine-year-old Hugo Benscher was found bound and gagged on the floor of his canal-front home in Paradise Point on June 21, 1992.

He had suffered serious head injuries.

Today, a man from Launceston in Tasmania was extradited to Brisbane where he was charged with one count of murder.

"We've reviewed thousands of pieces of information dating back to 1992," Detective Senior Sergeant Tara Kentwell said.

"We've interviewed and re-interviewed witnesses and conducted a forensic review of our exhibits, we've utilised modern policing methodologies to progress a historical investigation to this stage."

'I always thought one day they'd crack it', says son

Born in Hamburg in 1903, Hugo Benscher immigrated to Australia in 1948 and lived in Sydney for most of his life.

The inventor of an inflatable ball bladder used in sporting equipment, Hugo moved to the Gold Coast in 1986 after his wife died, and became a regular attendee of the Runaway Bay Yacht Club.

Hugo Benscher lived at this canal-front house in Paradise Point. ( Supplied: Queensland Police )

Hugo's son, Ron Benscher, thanked investigators and said he "always thought that maybe one day they would crack it".

"He suffocated to death — a terrible way to go," Mr Benscher said.

Ron Benscher congratulated police for the investigation into his father's death. ( ABC Brisbane: Jessica Rendall )

"He was old, he needed a walking stick to get around. I just can't believe that someone could do that.

"The murderer has had 27 years of freedom, now surely it is time for the guilty party to pay."

Mr Benscher said he had been tormented by memories of his father's death, but now felt relieved.

"He was a difficult dad, but he was always there for me," he said.

"I'm a product of what he made me today and I think that in my own way I've been successful because of his teachings."

Police repeat appeal for more information

A public appeal for information issued by Queensland Police in August 2019 remains in place along with a $250,000 reward for information leading the arrest and conviction of those involved.

But Detective Senior Sergeant Kentwell said a fine nickel broach with the inscriptions L-S-R-V came into police possession during the investigation and may be related.

"At the time of Hugo's murder there were numerous burglary and home-invasion-style offences occurring in adjacent canal estates," she said.

Police asked for anyone with information about this broach to come forward. ( Supplied: Queensland Police )

Detective Senior Sergeant Kentwell said neighbours reported being woken up by a high-revving outboard motor on the night of Mr Benscher's murder.

"We're seeking anyone who has knowledge of a boat in the canal around the time of Hugo's murder to contact police," she said.

"It's never too late to come forward, relationships and loyalties change, people who were once scared may no longer be."

Police have confirmed that the man charged with Hugo Benscher's murder was living on the Gold Coast in 1992 and was interviewed as part of the original investigation.

He is due to appear in the Brisbane Magistrates Court on Wednesday, February 26.