Waypoint one is an object which was washed out of the sea during a
storm in the early 1900's. It was such a memorable event that the
local council commemorated the event 21 years later with a plaque.
(They sure knew how to party back then!)
For the coordinates of the Cache:
Take the weight of the object in tons, and add the number to
3353354 to get the Southing.
Take the year it was washed up and add to 15115150 to get the
Easting.
Cache is close by. Easiest route is by the fairly level rock
platform, but there are a couple of ways down (or back up) the
cliff. When I took the Co-ords for the Cache I was picking up 7
satellites at full signal, (hint!) but being close to a cliff it
could vary. (Especially if you are looking in the wrong spot)
If you are having trouble finding parking, drive up Campbell
Parade to the top of the hill past the bus stops and turn right
into Hastings Parade. Take the next right at the end of the street
and look for a spot.

Geocaching Australia Forum