Crossword Genius

Two presents that cannot be found (7)

Ross

I believe the answer is:

nowhere

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'two presents that cannot be found' is the definition.
Although both the answer and definition are singular nouns, I cannot understand how they can define each other.

'two presents' is the wordplay.
'two presents' can mean two substitutions for 'present'.
'present' becomes 'now' (both can mean the current period).
'present' becomes 'here' (both can mean in attendance).
'now'+'here'='NOWHERE'

Can you help me to learn more?

(Other definitions for nowhere that I've seen before include "insignificant place?" , "It can't be found!" , "Out of the running" , "News from - (William Morris)" , "Non-existent location" .)

I've seen this clue in The Everyman puzzle in The Observer.
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