Mark Mateschitz, heir to the Red Bull fortune, has recently acquired the historic Gwandhaus in Salzburg's Morzg district.

This 17th-century building, previously owned by the real estate developer Planquadrat, was purchased for an undisclosed sum.

The Gwandhaus, which has served as a base for the traditional clothing manufacturer Gössl, is set to undergo a transformation, though its future use remains undecided.

Mateschitz, known for his investments in historical properties, aims to preserve the building's cultural significance while potentially repurposing it for modern use.

The acquisition aligns with his family's tradition of revitalizing historic sites, adding to their extensive portfolio in Salzburg.

The community awaits further announcements on the building's new role, which could range from a hotel to a corporate office.