National Treasury Relocates To Safer Offices As Decay, Refurbishment Force CBD Exit

Finance Minister Enoch Godongwana has confirmed that the National Treasury is moving out of its long-time home at 240 Madiba Street in Pretoria due to serious structural and safety concerns.

In a written parliamentary response to EFF MP Nothando Nolutshungu, Godongwana stated,

“The National Treasury has decided to vacate the building at 240 Madiba Street, Pretoria, due to significant building decay and infrastructural challenges, which pose serious health and safety risks for staff and operations.”

The deteriorating state of the building has prompted urgent relocation efforts, with officials aiming to ensure the safety of employees while minimising disruptions to Treasury operations.

40 Church Square to Be Preserved as Heritage Site

While one building is being abandoned, another is being restored. The Treasury has no plans to leave 40 Church Square permanently. Instead, the building—renowned for its historical significance—will undergo refurbishment.

“40 Church Square has not been vacated. It remains state-owned and forms part of the Treasury’s long-term accommodation strategy,” Godongwana explained.
“The intention is to refurbish and retain it as a heritage finance building, given its historic and strategic value.”

The goal is to modernise the space while preserving its architectural heritage, ensuring it continues to serve the department in the years to come.

Cost-Saving Move to New Offices Underway

The National Treasury is finalising a relocation to new leased premises owned by the Public Investment Corporation (PIC). The new space is expected to offer more stability and lower operating costs in the long run.

Godongwana revealed: “The rental cost under the former lease for 240 Madiba Street was R6,799,376.36 per month. The rental for 40 Church Square is R2,629,209.66 per quarter.”

The Department of Public Works and Infrastructure (DPWI) is currently finalising the lease agreement with the new landlord. Once completed, the Treasury will transition into its new location, which aligns with broader goals of efficiency and fiscal responsibility.

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“An assessment was conducted on the condition and potential refurbishment of 40 Church Square. As a result, the building is to be retained and refurbished, with plans aligned to preserving its heritage status and ensure it remains functional within the Treasury’s accommodation portfolio.”

Godongwana reiterated that while the Treasury supports long-term government ownership of office spaces, the management and leasing of such properties fall under the mandate of the DPWI.

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