This cache has been placed beside one of the oldest locations in the centre of Inverness.
Through the gate are the sparse ruins of a Dominican Friary that was founded by Alexander II in 1233. It sat opposite St. Michael's Mound (site of the Old High Church) which has been a religious spot since at least 565AD. The Friary was disbanded during the Reformation in 1556, with the building being gifted to Inverness by Mary, Queen of Scots. The ruined buildings were later used to construct Cromwell's Citadel and one of the many iterations of Inverness Castle. All that's left is the pillar to the immediate right of the entrance.
Also of note is what is called the Knight's Effigy on the right hand wall nearer the back. Some say it's of Alexander Stewart, Earl of Mar (1375 - 1435), who is actually buried here. Some say it's John Stewart (1531 - 1563), Prior of Coldingham and the Earl of Moray's half brother. It was said to have been carved when the Friary was active, so that leans to the Earl of Mar.
Nowadays, it's impossible to miss the adjacent Telephone Exchange building. Built in 1935 originally, a 1970s extension led to the enclosed bridge solution above.
The name Greyfriars is misleading, as the occupants were actually known as Black Friars (which gave a nearby watering hole its name!) and one of these men haunts the cemetery to this day. That's in addition to a lady in black seen in the upper floor of the Exchange building.
Onto the cache! It is not on cemetery property, so you don't need to visit the grounds, but I recommend you do (providing the gate is unlocked). I've included a fairly descriptive hint too.