The weathered home known as the jewel of Cliff Rd is to be replaced with a "company house" for mining executives from overseas.
The old Spence house at 64 Cliff Rd, Wollongong, was bought by Indian mining company Gujurat NRE for $5 million last August.
The previous owner, Norma Spence, went down in Illawarra folklore for her determination to resist all offers from developers for her home.
Indian mining company to expand Illawarra operationsBut when she died in 2007, her adult children decided to sell the cottage as it was the only way all family members could benefit equally.
Gujurat NRE Minerals Limited chairman Arun Jagatramka, who spends about 10 days of each month in Australia, said the old house would be replaced.
"We will be building a company house there," he said.
"Basically it will be for the directors, including myself, and also a few company functions.
"We are working on developing the plans and should be lodging them for the new construction very soon."
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