This is the 40th cache in the Blenheim Chorus Cabinet Art (CCA) series started by Kiwimykl and expanded upon by PaoloB72 and I. Since starting in Blenheim the CCA format has been franchised out and there are now CCA series expanding in Nelson, the West Coast (Greymouth and Westport), and more recently, Christchurch (more accurately titled CCCCA, for Christchurch City Chorus Cabinet Art).
New Zealand's regional geocaching guidelines do not allow for geocaches to be placed on telecommunications cabinets or electrical company power boxes, (although from time to time you may come across the odd one where the CO is not aware of, or ignores these guidelines so, in most cases, these tend to be offset multis or caches formatted in such a way that the coordinates need to calculated or solved. Therefore, you will not find the cache at the listed coordinates, so don't look there.
This colourful cabinet is placed just outside Mayfield School. The cabinet was painted by Mel Price and her granddaughter. From the CCA page on the MDC website:
You can almost hear the squawk of a bossy seagull chasing the others away! Protect your meal or you may just be sharing your Fish & Chips with Friends.
This will be a simple projection cache. To find the container head off from the posted coordinates at 333.61 degrees for 200.4 metres.