Heirs to $250m fortune fight developer on tax
THE heirs to the $250 million fortune of a Gold Coast hermit known as "Spiney Bob" are embroiled in a legal fight with the developer of a new suburb set to be home to up to 10,000 people.
Perth developer Perron Group has taken the administrator of the estate of Nancy Loeskow to court in Brisbane after they failed to agree on who will pay the GST on blocks of land which will be sold.
The land, known as Pacific View Estate, is the largest piece of development land within reach of Surfers Paradise and Southport.
Details of the dispute were revealed in the Supreme Court in Brisbane last month after Perron company Nerang Subdivision Pty Ltd launched legal action against Robert Hutson, the administrator of the estate.
Nancy Loeskow was the sister of Robert "Spiney Bob" Anthes who lived on the land from the late 1940s until he died 15 years ago aged 86.
The war veteran, reportedly a crack sniper who turned into a recluse, lived in caves and sheds on the property and defended his land with guns and an axe.
Spiney Bob's fortune is split between six heirs - Bob's grand niece Nancy Warren, 34, a grazier from Booyal near Childers, his nephews Alastair Loeskow from Bundaberg, and Fred Loeskow, and a John Mansfield, 81, from Duck Creek, NSW, 83-year-old Noama Kellaway from Killarney and Gordon Cecil, from Warwick.
Mrs Warren and her two uncles get 30 per cent each while the other relatives get 3.3 per cent each, according to court documents filed in an earlier legal stoush over the estate.
Perron, developer Ross Atkins and the estate agreed in 2009 to a deal whereby the estate contributes the 312 hectares they own on Hinkler Dr Worongary, and Perron will pay the estimated $750m cost to develop the land into houses, units, retail, commercial and industrial lots, court documents state.
Perron Group executive Ian Armstrong told the court in an affidavit that a dispute had arisen between Perron and the estate over who will pay GST on the sold lots of land.
Mr Armstrong states that Perron has spent 13 months in unsuccessful negotiations with the estate to try to resolve the dispute, and now need the court to decide.
Mr Armstrong stated development applications seeking approval for the initial stages were set to go to the City of Gold Coast Council in coming months and initial bulk earthworks were set to commence this year.
The land sits to the west of the M1 at Worongary and 3500 separate dwellings will be built, including houses, townhouses and units, Mr Armstrong states.
The development is likely to take up to 15 years to complete, and will be sold in about 27 stages, he states.
The estate has agreed to file an affidavit in the case by May 8 and the case is set to be heard in the Supreme Court on June 19.
Perron Group owns development sites in WA, as well as Toyota WA and is a part owner of the Runaway Bay Centre shopping centre on the Gold Coast, and has interests in 12 other retail complexes across Western Australia, ACT, NSW, SA and Victoria.
Originally published as Heirs to $250m fortune fight developer on tax