Welcome to the top end of Bellair Street. This side of Macaulay Road is a mostly residential and fairly quiet area of Kensington. The word Bellair translates to "Beautiful place" in French, and it is just that. With lots of protection from the sun and light rain, it can be a good spot to walk up and down when bored.
Bellair Street is home to various interesting locations such as Skinny park, the Kensington town hall, the Craigieburn side of the Kensington train station (and the signal box), the Flemington war memorial, and the Arden Street footbridge up the end. It also has views of the backs of the Younghusband Woolstore and the Allied Pinnacle flour mills, which could be of some interest to you. Good train spotting from the park and footbridge as well.
Many memories have been made on Bellair Street, such as racing trains in the park, forgetting to use my bike brakes on the footbridge, and walking up and down on Halloween.
The cache is hidden along along the fence that stops people from falling onto the train line below. The co-ords should be fairly spot on. The cache is in a pretty well hidden spot, so please return to the same location the best you can.
Good hunting.