Flemington Properties Pty Limited v Alpha Distribution Ministerial Holding Corporation [2024] NSWSC 1631

Supreme Court New South Wales

Medium Neutral Citation: Flemington Properties Pty Limited v Alpha Distribution Ministerial Holding Corporation [2024] NSWSC 1631 Hearing dates: 4 – 5 September 2024 Date of orders: 20 December 2024 Decision date: 20 December 2024 Jurisdiction: Equity - Real Property List Before: Williams J Decision: See orders at [158]. Catchwords: LEASES AND TENANCIES – Construction and interpretation of rent clause in commercial lease between the plaintiff, as lessor, and defendant, as lessee – Where the rent clause provides that the yearly rent payable under the lease is to be calculated as 8% of "the then current land value" as at 1 June, "as determined pursuant to the Valuation of Land Act 1916 or any Act amending or in substitution of the same … or otherwise pursuant to this Lease" – Whether a valuation made by the Valuer-General of New South Wales pursuant to s 14A of the Valuation of Land Act 1916 (NSW) of the "land value" of the land, as defined in s 6A of that Act, which is current as at the date on which the forthcoming yearly rent falls to be calculated, is a determination of the "then current land value" within the meaning of the rent clause, properly construed – Held: answered affirmatively. CONTRACTS – Implied terms – Terms implied in law or fact – Construction of indemnity clauses. LEASES AND TENANCIES – Construction and interpretation – Terms implied in law or fact – Construction of indemnity clauses. Legislation Cited: Civil Procedure Act 2005 (NSW) s 100 Electricity Network Assets (Authorised Transactions) Act 2015 (NSW) sch 7, cl 6, pt 2, s 48 Interpretation Act 1987 (NSW) s 49 Land Tax Management Act 1956 (NSW) ss 9, 9AA Valuation of Land Act 1916 (NSW) ss 4, 6A, 8, 13A, 13H, 14A, 14CC, 14EE, 19, 20, 29, 48 Cases Cited: Agricultural & Rural Finance Pty Ltd v Gardiner (2008) 238 CLR 570; [2008] HCA 57 Australian Casualty Co Ltd v Federico (1986) 160 CLR 513 at 520; [1986] HCA 32 BP Refinery (Westernport) Pty Ltd v Shire of Hastings (1977) 180 CLR 266 Central Coast Council v Norcross Pictorial Calendars Pty Ltd (2021) 391 ALR 157; [2021] NSWCA 75 Charter Reinsurance Co Ltd v Fagan [1997] AC 313 Cherry v Steele-Park (2017) 96 NSWLR 548; [2017] NSWCA 295 Donau Pty Ltd v ASC AWD Shipbuilder Pty Ltd (2019) 101 NSWLR 679; [2019] NSWCA 185 Ecosse Property Holdings Pty Ltd v Gee Dee Nominees Pty Ltd (2017) 261 CLR 544; [2017] HCA 12 Electricity Generation Corporation v Woodside Energy Ltd (2014) 251 CLR 640; [2014] HCA 7 Laundy Hotels (Quarry) Pty Ltd v Dyco Hotels Pty Ltd (2023) 276 CLR 500; [2023] HCA 6 McGrath v Sturesteps (2011) 81 NSWLR 690; [2011] NSWCA 315 MetLife Insurance Ltd v RGA Reinsurance Company of Australia Ltd [2017] NSWCA 56 Newey v Westpac Banking Corporation [2014] NSWCA 319 The J & P Marlow (No. 2) Pty Ltd v Hayes and McCabe (2023) 112 NSWLR 29; [2023] NSWCA 117 XL Insurance Co SE v BNY Trust Company of Australia Ltd [2019] NSWCA 215 Texts Cited: N/A Category: Principal judgment Parties: Flemington Properties Pty Limited (Plaintiff) Alpha Distribution Ministerial Holding Corporation (Defendant) Representation: Counsel: Mr R Dick SC with Ms N Bailey (Plaintiff) Mr R Lancaster SC with Mr H Atkin (Defendant)