Moving folder containing versioned folders

At the moment I have a folder structure like this:
- web dev
   - app dev
      - modules
         - project1
            + working copy
         + project2
            + working copy
            + versions
      - plugins
         + project3

The folders project1, project2 and project3 contain TortoiseSVN
repositories. There are no repositories in higher level folders.

I would like to change my folder structure to:
- web dev
   - app dev
         + project1
         + project2
         + project3

So, what I want to do is not to move folders or files around within a
versioned folder, which I would do with the TortoiseSVN context menu.
Instead, I want to move versioned folders. Am I right to think that I can
simply move folders project1, project2 and project3 with Windows Explorer?

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