London’s Holborn district has a new player in flexible workspace, and it’s built on hard-won lessons from the WeWork era.

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 that challenges how the industry thinks about flex office economics.

The difference starts with the business model. Where traditional operators sign leases and absorb the associated risk, Vallist partners directly with landlords through white-label management agreements. It’s a structure that 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 explains. “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.”

Walk into most flex spaces, and you’re met with turnstiles, security gates, and visual noise. Finlaison House takes a deliberately different approach.

“Most flex spaces hit you with noise – both visually and acoustically,” says Passler. “At Finlaison House, the first impression is deliberately restrained. You feel the quality of materials, the acoustic separation, the natural light, and attention to detail. It feels closer to a private members’ building or a high-end headquarters than a flexible workspace.”

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 the commitment of a traditional office lease. Security and privacy are handled with the same restraint: robust and appropriate for professionals working with sensitive information, but without imposing barriers or distractions.

The location matters too. 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 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 notes. “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.”

The partnership approach addresses persistent challenges in flexible workspace economics. Traditional lease-backed models force operators to maintain high occupancy rates to meet fixed rent obligations, a pressure that can compromise service quality and pricing discipline.

The timing aligns with broader market trends. London’s premium office sector is seeing increased demand from firms seeking right-sized, amenitized workspace solutions. The pandemic didn’t kill office demand – it killed mediocre office space.

“In 2026, professionals are spending fewer days in the office, but when they do go in, the environment has to earn that commute,” Passler observes. “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. From thoughtfully designed shared areas to member-led events like cocktail evenings, the approach feels considered rather than programmed. It’s hospitality thinking applied to workspace operations.

Passler’s vision for Vallist prioritizes sustainable growth over rapid expansion. The focus remains on selective development in buildings and locations where quality genuinely matters.

The test will be whether the hospitality-led, landlord-partnership model can deliver returns that satisfy both property owners and justify premium pricing to occupiers. Early market positioning suggests Vallist is betting on upmarket segments willing to pay for differentiated workspace experiences.

For an industry still working through the lessons of WeWork’s spectacular rise and fall, Vallist represents a different kind of bet: that flexible workspace succeeds not by moving fast and breaking things, but by building slowly and doing things correctly.

Find out more about Vallist – vallist.com

Disclosure: Individuals or companies mentioned may have a commercial relationship with KeyCrew.

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