Point Franklin is the small headland that closes the eastern end of Portsea's front beach, and the reef that runs off it is the most substantial natural shore dive on the bay side of the Peninsula, dropping from the intertidal rock to about 15 m within easy swimming distance of the shore. The Scuba Doctor lists it at 1–15 m with a tidal-planning note that makes clear this is a site for divers who understand the Heads: slack water into the ebb gives an hour, the flood sweeps east, and the swim back against a running tide is not an option. The reef itself is a series of ledges and rock ridges dropping away from the point, thick with kelp on top and encrusted with sponges, ascidians and bryozoans on the faces, with sand channels between.

It carries a much richer fish community than the piers: schools of old wives and sweep, magpie perch, bluethroat and senator wrasse, leatherjackets, boarfish under the deeper ledges, and – in the kelp – weedy seadragons. Southern rock lobsters hide in the deeper holes, fiddler rays and stingarees sit on the sand, and seals from Chinamans Hat occasionally pass. The site connects westward to the Portsea Pier East Reef under the mooring field, so three dives are possible from the same car park: the point and outer reef, the point combined with the pier, or a beach start with flexible exits at Shelley Beach, the point or the pier.

The 430 m walk from the parking with gear is the price of admission, and the site's exposure to boat traffic and current means a flag, an SMB and a conservative gas plan are non-negotiable. Point Franklin suits confident Open Water divers and above who want a real reef with depth from shore, drift-dive practice in benign surroundings, and the chance of seadragons and lobsters in clean water. It is the natural next step for divers who have outgrown Portsea Pier.

Park near Portsea Pier on Point Nepean Road (unrestricted May–November; 2–4 hour limits December–April) and walk east along the foreshore path and beach about 430 m to Point Franklin – the source calls the walk tiring in full kit. Enter from the sand at the eastern end of Portsea beach and swim out around the point, or use the stairs down to Shelley Beach on the eastern side of the point and enter there. Three routes are used: the point and outer reef alone; the point combined with a return along the pier; or a start along the beach with flexible exit points.

Exit at Shelley Beach, Portsea beach or the pier depending on the tide.

Point Franklin is exposed to northerly winds and best dived in southerly conditions when Weeroona Bay is flat. The key planning factor is tide: the source recommends entering at slack water as the tide turns to ebb, which gives at least a 60-minute dive before the stream builds, with local slack about 30 minutes behind the published Rip/Heads times. On the flood the current sweeps divers east toward Shelley Beach and beyond, so a slack-to-flood dive must be planned as a drift with an eastern exit.

When the current is felt, head for shore. Boat traffic is high in summer and an SMB must be deployed before surfacing.

Enter at the eastern end of Portsea beach at slack water before the ebb, swim out over the shallow reef and round the point, following the outer reef edge down to 12–15 m with the rock on your right. Turn after 25 minutes or at half gas, return along the shallower ledges at 5–8 m with the rock on your left, and exit at Shelley Beach or the point; send up an SMB before ascending if away from shore.

Bayplay and Dive Victoria guide it occasionally for experienced clients; otherwise independent divers who know the tides. No charter needed.