Will re-installing the server solve the issue for us?
Yes, but you can use more easier way (because Visual SVN Server provides http-access to repositories, but file:/// protocol can be used without it):
If real repositories inside parent folder are present and not broken in some way and you have any SVN-client (TortoiseSVN is OK), you can work with repositories on local filesystem as usual, but use file:/// protocol in URL.
Sample: repository on z:\Repo
path can be browsed|checkouted using file:///Z:/Repo
URL
If you haven't svn-client here, you can copy repository as odinary directory on any other host (to any location) and use on this new host