At the listed coordinates you will find a small park adjacent to the Port River, that contains some interesting artwork. The art is named 'Taltaityai' (pronounced Tal-tait-jay) which is the Kaurna word for glow, and was created by Michelle Nikou and Jason Milanovic. There are a number of information boards looking out onto the river, that explain the inspiration behind the art on display. For the best caching experience, I recommend visiting this site at night. It will reduce the muggle factor and is how the artwork was intended to be viewed.
An interesting side note, while the animal sculpted is on the Australian coat of arms, it was also once a combatant against a detachment of the Royal Australian Army, that resulted in a stalemate.
Please Note: The cache is held in place by magnets gripping the ferrous material that comprises the frame. All four magnets must be aligned correctly. If when replacing the cache, it won't hold, it means the magnets are not aligned. Simply rotate the cache slightly (there is only a small angle that it is possible to rotate through) until all four magnets take.