The geocache is a micro bison tube container. Beware of stinging nettles in the summer. You should be able to find it quickly if you use the hint. It is more difficult to find if you don't use the hint.
It's a replacement for GC1JPCJ by figures which was archived. It's located just off the Basingstoke canal towpath under Mytchett lake bridge (there's stairs to take you down) along a popular section of the canal the other side of the canal centre (where there's a cafe and a playground). It's a cache which is great for beginners and children. Check out Visitor centre for info.
I recommend you walk here and combine this with other geocaches along the canal and in Frimley lodge.
Stealth will be needed especially on holidays and sunny days, the towpath on this side isn't the best but wheelchairs probably could manage it. There's a drawbridge nearby which is open from 10am to 4.45pm every day. It gives you access from the canal centre side to the side of the towpath where the geocache is placed. Alternatively, you can access this side of the canal from the canal centre by walking along Mytchett Place road (up the road-bridge) and walking down some wooden steps
This is a fascinating place. There are loads of brilliant birds here including ducks, swans, coots, geese, canadian geese, moorhens, cormorants and herons in addition to many songbirds, fish and bugs of all shapes and sizes. It's a marvellous place for walking, cycling and water-based activities (such as canoeing).

This is from figures' original description:
The Basingstoke Canal is in the south east of England and flows through the counties of Hampshire and Surrey. It originally ran from the Hampshire town of Basingstoke to its junction with the River Wey Navigation in Surrey 37 miles away.
Today, 32 miles of the original navigation have been restored from the Wey Navigation as far as North Wanborough in Hampshire, as a public amenity catering for boaters, walkers, canoeists, anglers and naturalists. Refer to the Surrey and Hampshire Canal Society for more information.
It has 29 locks, all but one in Surrey, which together raise the canal 204 feet from the River Wey.
More info can be found at canal history

FTF goes to I.AM.WILL at 7.39am on 29/5/14.
Good Luck 