London's flexible workspace market is seeing a new approach from a veteran of the industry's most turbulent chapter. Alex Passler, who previously led WeWork's Northern Europe operations, has opened Vallist's flagship location at Finlaison House in Holborn, introducing a hospitality-first model that challenges traditional flex office economics through direct partnerships with landlords rather than conventional leases.
The 30,000-square-foot space represents a deliberate departure from the rapid expansion model that characterized WeWork's rise. "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."
Vallist's business model eliminates the lease exposure that has troubled traditional flex operators by entering white-label management agreements directly with property owners. This structure aligns incentives between landlords and operators, allowing for investment in quality rather than pressure to maintain high occupancy rates to meet fixed rent obligations. For property owners watching office occupancy rates fluctuate, this offers an alternative to both traditional letting and lease-backed flex operators.
The Finlaison House location targets London's legal, financial services, and professional services sectors with premium private office suites and Work Club memberships that include dedicated co-working areas, designer lounges, and bookable meeting rooms. Unlike typical flex spaces with visual and acoustic noise, the space emphasizes restrained design, quality materials, acoustic separation, and natural light. Security and privacy are handled with appropriate robustness for professionals working with sensitive information without imposing distracting barriers.
The timing aligns with broader market trends toward quality workspace. "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 through thoughtfully designed shared areas and member-led events, applying hospitality thinking to workspace operations. The company's selective development approach focuses on buildings and locations where quality genuinely matters rather than rapid expansion.
For an industry still processing the lessons of WeWork's spectacular rise and fall, Vallist represents a different approach: flexible workspace success through building slowly and correctly rather than moving fast. The test will be whether this hospitality-led, landlord-partnership model can deliver returns that satisfy both property owners and justify premium pricing to occupiers. More information about the company's approach is available at https://vallist.com.
