Commercial lease without a solicitor?

[stevegriff]

I know i'm mad but...
I have been in a property for 18yrs with a commercial lease.
I want to take a lease on the other half of the property from the same landlord on
an identical lease. I have had other leases, i am not naive and ultimately the landlord
is a gem.
I can register the lease but between us we are wondering what the solicitors
are actually going to do for their money, do we need them?
Do we have to do anything other than sign and register it.
I dont need any searches, there is no rent deposit, all terms will be agreed between us and i dont need
any additional advice on the lease itself.
I cant find any proceedural advice saying legally we have to do anything more than register it.
Am i missing anything?
Thanks for any advice.
Steve

 

[KM-Tiger]

... and ultimately the landlord
is a gem.

And when he sells to someone who is not a gem ...

 

[stevegriff]

Well i'd still be happy.
If he wanted to sell i'd pay more than a 3rd party but he's collecting them not selling them unfortunately.
There will be 3 yr break clauses and i am happy with the lease and cant see what additional concessions i could get. He doesn't charge me maintainence but hes not going to sign away his right to it.
He has largely refurbished the building recently and It is a straightforward FRI under the act.
Bottom line is i'm happy with the lease.

 

[kulture]

Its your risk, and I have been tempted in the past to do the same, BUT what happens if the landlord dies, or sells the freehold, the new landlord may decide to enforce the FRI clauses and stick you with a huge bill. I am always of the opinion that a contract should reflect the reality, and not assume that any difference will never be enforced.

 

[businessfunding]

As a rule it is difficult to see the value of good advice until you experience the cost of bad (or no) advice.

Personally for a significant ongoing transaction I would take professional advice