How did I miss this? There are two large blocks, next door to each other, right in the middle of Point Lonsdale. And I didn't know they were there.
One, called 'Ballara', belonged to Deakin (the Prime Minister) and the other, called 'Arilpa', to his son-in-law Bookes. The vegetation is remarkably intact, and the Swan Bay Environment Association has been given permission to collect seed there and survey for orchids (about 12 species I think).
Is it possible that both blocks will be preserved intact in the future? They must be worth squillions.