Prevent rebuilding above it (7)

I believe the answer is:

obviate

'prevent' is the definition.
(I know that obviate is a more specific form of the action prevent)

'rebuilding above it' is the wordplay.
'rebuilding' is an anagram indicator.
'above'+'it'='aboveit'
'aboveit' with letters rearranged gives 'OBVIATE'.

(Other definitions for obviate that I've seen before include "Avoid, prevent" , "Get round or do away with" , "Make unnecessary" , "Forestall" , "Anticipate" .)

I've seen this clue in The Independent.

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