When do we move?
![](file:///D:/My%20Documents/CuteSite%20Page%20Files/MySite%20Archive%20Copy/philiphuntsite_28jun05/1x1.gif)
The earliest we can move to East Burwood is February 1993.
![](file:///D:/My%20Documents/CuteSite%20Page%20Files/MySite%20Archive%20Copy/philiphuntsite_28jun05/1x1.gif)
That fact ought to be well known as I have mentioned it in Trellis before.
![](file:///D:/My%20Documents/CuteSite%20Page%20Files/MySite%20Archive%20Copy/philiphuntsite_28jun05/1x1.gif)
That timetable is dependent on a number of routine miracles.
![](file:///D:/My%20Documents/CuteSite%20Page%20Files/MySite%20Archive%20Copy/philiphuntsite_28jun05/1x1.gif)
The biggest miracle is that we can sell our present building for a reasonable price. Unfortunately, this is looking very difficult at the moment.
![](file:///D:/My%20Documents/CuteSite%20Page%20Files/MySite%20Archive%20Copy/philiphuntsite_28jun05/1x1.gif)
Three years ago the building was valued at over $10 million. In today's market it is hard to find a buyer. As a result, even if we could find a buyer, we are unlikely to see half the valuation of three years ago.
![](file:///D:/My%20Documents/CuteSite%20Page%20Files/MySite%20Archive%20Copy/philiphuntsite_28jun05/1x1.gif)
At the meeting of the Board executive we agreed to proceed up to the stage of designing and documenting the new East Burwood building.
![](file:///D:/My%20Documents/CuteSite%20Page%20Files/MySite%20Archive%20Copy/philiphuntsite_28jun05/1x1.gif)
Once this work is done, we shall have a set of plans that can be put into action whenever conditions are right.
![](file:///D:/My%20Documents/CuteSite%20Page%20Files/MySite%20Archive%20Copy/philiphuntsite_28jun05/1x1.gif)
In the meantime we shall begin to approach the market with our property in South Melbourne.
![](file:///D:/My%20Documents/CuteSite%20Page%20Files/MySite%20Archive%20Copy/philiphuntsite_28jun05/1x1.gif)
My own judgement is that we must expect a delay to allow the market to become more favourable before we begin to build in East Burwood.
![](file:///D:/My%20Documents/CuteSite%20Page%20Files/MySite%20Archive%20Copy/philiphuntsite_28jun05/1x1.gif)
Fortunately we predicted this possibility and we can cope with a delay, even a fairly long one.
![](file:///D:/My%20Documents/CuteSite%20Page%20Files/MySite%20Archive%20Copy/philiphuntsite_28jun05/1x1.gif)
So don't stop buying your monthly tickets just yet. And, by all means, pray for a miracle.