That you, Steve McIntyre, would do your usual
thorough and object
analysis of the TOBS issue, and wondered if TOBS would be an issue for all
classes of stations which might not change the qualitative results of bias resulting from poorly placed weather stations.
If the prevailing cap rates for a particular asset
class show a hypothetical range between 6.5 per cent and 8.5 per cent, more
thorough analysis will be required to determine what rate should be applied to the subject property.