London's Holborn district has a new flexible workspace operator applying hospitality principles and a landlord partnership model to address fundamental flaws in traditional flex office economics. Alex Passler, who previously led WeWork's Northern Europe operations, opened Vallist's flagship location at Finlaison House, a 30,000-square-foot space designed to prioritize durability and quality over speed and scale.
The business model represents a significant departure from industry norms. Instead of signing leases and absorbing associated risk, Vallist partners directly with landlords through white-label management agreements. 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."
Finlaison House challenges conventional flex space design by emphasizing restraint, quality materials, acoustic separation, and natural light rather than visual noise. The space features premium private office suites alongside Vallist's Work Club membership, which includes dedicated co-working areas, designer lounges, and bookable meeting rooms without traditional lease commitments. Located near London's Royal Courts of Justice and surrounded by major law firms, the space targets legal, financial services, and professional services sectors demanding both flexibility and quality.
For property owners watching office occupancy rates fluctuate, 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." 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 launch coincides with broader market trends where London's premium office sector sees increased demand for right-sized, amenitized workspace solutions. "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 for Vallist 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 justifying premium pricing to occupiers. For an industry still working through lessons from WeWork's rise and fall, Vallist represents a different approach: that flexible workspace succeeds by building slowly and correctly rather than moving fast. More information is available at https://vallist.com.
