From the sign out front:
This small reserve, which lies above the course of Jutland Creek, was acquired by Council in 1977 for drainage purposes.The street is named in honour of the hobart mayor 1925-26.
Apparently there is a sign of some description warning of drug users and poo in the 'park'.This wasn't there when I placed the cache and I personally saw no more signs of either in there than I have seen in any other park in the area. Enjoy caching but be careful of dangers, man made or natural, wherever you go.