London's Holborn district has a new flexible workspace operator that applies lessons from the WeWork era through a fundamentally different business model. Alex Passler, who previously led WeWork's Northern Europe operations, has opened Vallist's flagship location at Finlaison House, a 30,000-square-foot space designed to rethink flexible office economics.
The core innovation lies in Vallist's partnership approach with property owners. Unlike traditional operators who sign leases and assume associated risks, Vallist operates through white-label management agreements directly with landlords. This structure eliminates lease exposure while aligning incentives between property owners and operators. "The biggest lesson was that a flexible workspace only works when it's built for the long term," Passler explained. "At WeWork, the product was compelling, but the model often prioritized speed and scale over durability. With Vallist, we started from the opposite direction: slow down, partner with landlords, and design spaces that could still feel relevant and resilient ten or twenty years from now."
The Finlaison House location deliberately contrasts with typical flex spaces that feature turnstiles, security gates, and visual noise. Instead, the space emphasizes quality materials, acoustic separation, natural light, and attention to detail, creating an atmosphere closer to a private members' building or high-end headquarters. The workspace includes premium private office suites alongside Vallist's Work Club membership, which provides access to dedicated co-working areas, designer lounges, and bookable meeting rooms without traditional lease commitments.
Positioned near London's Royal Courts of Justice and surrounded by major law firms, Finlaison House targets legal, financial services, and professional services sectors that demand both flexibility and quality. For property owners navigating fluctuating office occupancy rates, Vallist's model offers an alternative to both traditional letting and lease-backed flex operators. "By partnering directly with landlords, we align incentives," Passler noted. "We're focused on building value into the asset, not just filling desks. That allows us to invest properly in design, soundproofing, technology, and service – and to operate with patience rather than pressure."
This partnership approach addresses persistent challenges in flexible workspace economics where traditional lease-backed models force operators to maintain high occupancy rates to meet fixed rent obligations, potentially compromising service quality and pricing discipline. The timing aligns with broader market trends showing increased demand for premium, amenitized workspace solutions in London's office sector. "In 2026, professionals are spending fewer days in the office, but when they do go in, the environment has to earn that commute," Passler observed. "Quality now means exceptional acoustics, generous space per person, privacy, hospitality-level service, and locations that feel central and considered."
Beyond workspace fundamentals, Vallist emphasizes member experience through thoughtfully designed shared areas and member-led events, applying hospitality thinking to workspace operations. Passler's vision prioritizes sustainable growth over rapid expansion, focusing on selective development in buildings and locations where quality genuinely matters. The test will be whether this hospitality-led, landlord-partnership model can deliver returns satisfying both property owners and justify premium pricing to occupiers. For an industry still processing WeWork's rise and fall, Vallist represents a different approach: flexible workspace success through careful building rather than rapid scaling. More information is available at https://vallist.com.
