Copying Site to a Subdomain

I copying my site The Sydney Visitor to the subdomain new.thesydneyvisitor.com. The reason is that i want to change the design while my old site is still active.

What I have done so far:
Copied all the files to the sub-domain directory using ftp.
Created a new database
Exported the old site database and imported it to the new database
Edited the wp-config file (in the subdomain directory) to point to the new database
Updated the wp-options table to reflect the url change
Run this query to update the URL change in the posts
UPDATE wp_posts SET guid = replace(guid, 'http://www.thesydneyvisitor.com','http://www.new.thesydneyvisitor.com');

The problem:
After doing all these when i trying accessing the site using the subdomain url i get the following errors:

Warning: require(/home/rapidtem/public_html/new/wp-includes/load.php) [function.require]: failed to open stream: No such file or directory in /home/rapidtem/public_html/new/wp-settings.php on line 21

Fatal error: require() [function.require]: Failed opening required ‘/home/rapidtem/public_html/new/wp-includes/load.php’ (include_path=’.:/usr/lib/php:/usr/local/lib/php’) in /home/rapidtem/public_html/new/wp-settings.php on line 21

Kindly Assist I am stuck.

Thanks in advance