Verticality of a fine fabric cape (9)

I believe the answer is:

sheerness

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'verticality of a fine' is the definition.
The definition suggests a singular noun which matches the answer.

'fabric cape' is the wordplay.
'fabric' becomes 'sheer' (I have seen 'transparent fabric' mean 'sheer' so perhaps 'fabric' could also mean 'sheer').
'cape' becomes 'ness' (synonyms).
'sheer'+'ness'='SHEERNESS'

Can you help me to learn more?

(Other definitions for sheerness that I've seen before include "Site of former naval dockyard in Isle of Sheppey" , "Feature of cliff" , "Verticality (of, eg, a cliff); town on Isle of Sheppey" , "Kent resort" , "Stark quality" .)

I've seen this clue in the Sydney Morning Herald.

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