The Tekapo began as the Cape Clear, an 89 m, 2,439-ton iron cargo steamer completed in September 1881 by R. Steel and Company of Greenock for Abram Lyle and Sons, and used to carry migrants to Tasmania. The Union Steam Ship Company of New Zealand bought her in 1884 for £36,500, renamed her Tekapo and had Denny's of Dumbarton rebuild her to carry 82 saloon and 51 steerage passengers as well as cargo; her two-cylinder engine drove a single screw at up to 11 knots.

At 3.45 am on 16 May 1899, under Captain Herbert Sams, she left Sydney Harbour for Port Kembla to take on coal. In dense fog, despite half speed and extra lookouts, she struck the rocks twice amidships and then drove her bow into a rock wall at the southern headland of Maroubra Beach, about 14 km south of the Heads. The Marine Board found Sams had navigated too close to the shore in fog and suspended his certificate for six months.

By 31 May the ship had broken into three pieces; salvors removed the engine, dynamo and fittings. Divers raised anchors in 1972 and 1986, and the 1986 anchor, four metres long, now stands as a monument at North Maroubra, with markers indicating the wreck position. Surprisingly, the main part of such a big ship has never been definitively located.

About 200 m offshore in 5 m of water lies wreckage attributed to her – bollards, metal plates and a small winch – among kelp, urchin barrens and low reef. McFadyen notes the published GPS still needs confirmation. Fish life is typical of the Maroubra reefs: luderick, silver sweep, mado, yellowtail and blue gropers, with wobbegongs under ledges.

The dive is a shallow search and heritage exercise rather than a structured wreck, and the point also holds the scattered remains of the Belbowrie. It suits experienced shore divers and those interested in Sydney's shipwreck history.

Park at the South Maroubra Surf Club car park off Fitzgerald Avenue. The Tekapo's four-metre anchor stands as a monument at North Maroubra, and the two obelisks there form a sighting line towards the wreck. Walk south along the beach and out along the rock platform, enter from a sheltered inlet and snorkel about 200 m offshore to McFadyen's mark (33° 57.369' S 151° 15.800' E, noted as needing verification) in about 5 m.

On calm days a boat from Botany Bay or Long Bay is easier – anchor in 5–8 m off the point.

Very shallow (5 m) and on an exposed headland, so any swell from north-east to south produces heavy surge and breaking water over the wreckage – it needs a flat day with swell under 1 m, ideally a westerly. The 200 m surface swim from the platform is tiring in chop or current. Visibility is best after several dry, calm days; after rain it drops quickly.

Morning dives avoid the summer north-east sea breeze.

From the boat or after the snorkel, descend at the mark in 5 m and search in expanding circles for bollards, metal plates and the small winch. Use a compass and surface float. Return towards the platform along the reef.

No regular operator – private boats and experienced shore divers; occasionally visited on South Maroubra dives by Pro Dive Coogee and Abyss.