Masters in Public Administration - MPA / Government’s immovable assets are fundamental in achieving its service delivery objectives. If not put to productive uses the welfare of a country, or even its national income, could be reduced significantly. The value for money principle should resonate through effective asset management. “Poor management” of closed school buildings worth millions may be regarded as “financial wastage”. Four case studies reflecting various outcomes of re-use, abandonment and demolition will be reviewed. The application of legislation and policy on government immovable asset management are problematic when schools are closed down. The study focus will be on government immovable asset management and not the reasons for school closures. Literature in this field is very limited. The research findings could add value to the subject field by minimising the chances of a possible repetition of “bad management” of closed schools. Currently in public discourse is the possible closure of 26 schools in the Western Cape. The research could be used as a guiding document for stakeholders, administrators and other research scholars. The research objectives are to formulate a clear understanding on: The Governance of immovable asset management in government; The Responsibility of the different state stakeholders and their interaction on immovable asset management; and The participation of non-state stakeholders. A Qualitative research design is followed. Tools consist of four case studies, semi-structured interviews and questionnaires. A literature review and study of applicable legislative and policy documents was done and empirical data analysed. An international best practice model is also discussed. This study has revealed various research findings through the primary and secondary sources collected. Based on these findings specific recommendations are made to the various stakeholders. The wellbeing of all stakeholders and respondents were set above outcomes and objectives that the research could generate.