To directly answer your question, combining the two will always have a known level of security. If you stack the cryptographic operations one after the other, your security depends on the order in which they're stacked. If you encrypt using the location hash last, you are opening up an easily brute forced path to where the "primary secret key" is the only thing protecting your secrets.
From the question, I assume you're trying to tie a GPS to a device to decrypt a message successfully only when the device is in a specific location. This sets off a lengthy chain of issues. One is understanding that the precision of GPS is variable. Depending on many environmental things such as atmospherics, nearby metal buildings, construction, solar flares, jet streams, etc., standard GPS devices can easily be off by several meters. That means you need to build your solution to be fault tolerant, so the user will be successful when he is "close enough" to your target location. The way to do that is to reduce the precision of the coordinates, yielding coarser numbers. You will need to reduce Lat/Lon readings to no more than four decimal points of precision in order to make the system usable, and possibly fewer digits if you are permitting the user to report in from a larger area.
The reason precision is important is that it bounds the search space a determined attacker has. A four digit precision has a maximum value of 359.9999, or 3.6 million possible latitudes by 3.6 million possible longitudes around the globe, or 13 trillion (~$2^{44}$) possible locations. However, if your attacker knows anything about the device, he probably has an idea about the area in which it will be deployed. If your attacker knew the general area was somewhere within "the metropolitan area around Minneapolis, Minnesota", he might draw a bounding box from 45.2844/-93.6926 to 44.5865/-92.7782. That's only 6979 x 9144 possible locations, which is just shy of 64 million guesses. If you wish to compound that by stating your user has to be there on a specific day, that only multiplies it by the possible time range. If the attacker knows to within a month, that's still under two billion guesses.
A home-built computer using graphics cards for co-processors is able to perform 348 billion cryptographic operations per second. A slightly less resourceful attacker would take a bit longer, but he'd still figure it out quickly. Therefore, if your legitimate user knows the "primary secret key", he can test all two billion decryptions without moving an inch, and unlock your secret.
A slightly more secure approach would be to have your GPS-enabled box send the encrypted coordinates to a server over an authenticated connection. (Your server can also independently verify the time of day of the request.) That way you're breaking the problem into your two separate requirements: authentic person plus correct location. The benefit of using an on-line server is that you can detect and deny someone who is sending you thousands of guesses per second, and defeat a brute-force attack.
But if your legitimate user knows he is tasked with being in location X at time Y, he can always fake it (even if he can't make it.)