Beacon point has outstanding views of the coastline of this part of the bay. Almost the entirety of Corio Bay is visible, but only the western quarter of Port Phillip bay can be seen - the rest of it is hidden behind the Bellarine Peninsula.
The light towers of Kardinia Park (home of the Geelong AFL club) are easily visible on a clear day (which is most days) and the You Yangs stand out across Corio Bay. Melbourne, which is 53 km away, can also be readily seen to the North East, and just to the left of the Bellarine Peninsula, on which you stand.
The area adjacent to the car park, and to the north west is a dog walking area, so you may have to keep your eyes open for grenades.