When do we move?
The earliest we can move to East Burwood is February 1993.
That fact ought to be well known as I have mentioned it in Trellis before.
That timetable is dependent on a number of routine miracles.
The biggest miracle is that we can sell our present building for a reasonable price. Unfortunately, this is looking very difficult at the moment.
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.
At the meeting of the Board executive we agreed to proceed up to the stage of designing and documenting the new East Burwood building.
Once this work is done, we shall have a set of plans that can be put into action whenever conditions are right.
In the meantime we shall begin to approach the market with our property in South Melbourne.
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.
Fortunately we predicted this possibility and we can cope with a delay, even a fairly long one.
So don't stop buying your monthly tickets just yet. And, by all means, pray for a miracle.