Global internet giant Google has acquired an historic post office building in Munich, unveiling plans to transform the asset into its new Bavarian headquarters.
Financial details were not disclosed, but local sources place the deal for the Postpalast in the low-three-digit millions.
Google has three main seats in Germany, in Hamburg, Berlin and Munich. The Mountain View firm merged its three former Munich offices into one single site in January 2016, when it took out the lease on its current home in Erika-Mann-Strasse, behind the city's main train station.
However, after reaching capacity there, at around 1,000 employees, Google has now moved on plans to transform the Postpalast into an additional office resource, as it seeks to add another 1,500 workers in the medium term. These developments would make Munich Google's biggest base in Germany.
Previous owners of the Postpalast asset planned to transform the building into a luxury hotel, an idea which has now been abandoned. It is currently used as an event and conference venue.
Google's plans will create some 41,000 m2 of modern office space on the site, while maintaining the historic facade of the Postpalast structure.