Philip Michael Stearman, formerly of the Gold Coast, was extradited from Tasmania to Brisbane on Tuesday, where he was charged with one count of murder.

The Launceston man has been remanded in custody to appear in court again on March 23 after a brief appearance in the Brisbane Magistrates Court on Wednesday.

He was represented by the duty lawyer, who told the court Stearman had been given a legal aid application form.

Hugo Benscher, 89, was found bound and gagged with head injuries in his canal-front home on June 21, 1992, police said previously.

Born in Hamburg in 1903, Mr Benscher came to Australia in 1948 and invented the inflatable ball bladder and valve for sporting equipment.

He lived in Sydney before retiring to the Gold Coast in 1986 where he lived alone.

Police offered a $250,000 reward for help to solve the cold-case murder and detectives have not ruled out further arrests.

"Police believe there are more people who possess information about the murder of Hugo Benscher and may be more willing to give information following today's arrest," Detective Senior Sergeant Tara Kentwell said on Tuesday.

Australian Associated Press