Re Noelani Pty Ltd

Noelani Pty Ltd ("Noelani"), the assignee of a lease dated 24 April 1989, sought a declaration from the Supreme Court of Queensland regarding the interpretation of certain terms of the lease, particularly the definition and determination of "open market rent." The respondents, assignees from the original lessor, opposed the application. The primary issue was whether the valuer or expert appointed to determine the open market rent should consider the effective rents of comparable premises, including any premiums, incentives, or other advantages, or whether they should focus solely on the nominal or face rental values. Additionally, the court had to decide if the valuer or expert should account for any incentives provided to the original lessee when calculating the open market rent.

The court considered the wide jurisdiction to make declarations and the principles guiding such interventions, referencing cases such as Forster v Jododex Aust Pty Ltd and Ibeneweka v Egbuna. The court found that the application for a declaration did not serve a useful purpose since the disagreement between the parties did not impact the valuation process mandated by the lease. As the matter was to be left to the appointed valuers, and there was no current relevance to the dispute, the court dismissed the application.