Welcome to the Canterbury City Waterfall!

(not actual photo of the waterfall, CCW is a lot prettier!)
This little to unknown landmark is located just outside of town, rivaling world famous waterfalls such as Niagara Falls. This waterfall may not be as big, nor powerful, but it definitely pulls its own weight on the world stage. If you're lucky enough, you might catch a local pigeon having a drink from the water.
The cache is not located at the coordinates, but nearby enough for a second visit to the landmark. You will have to solve the following puzzle to calculate where the cache is:
There is a blue sign nearby detailing three words. Put those words into numerical value (e.g Water = 5) and assign each word a letter in the order that they appear.
Puzzle: N 51° 16.(B+1)1(A+7) E 001° 05.(C+A)9(C-4)
Please feel free to detail your mystical experience with the waterfall in your log :-)