There is a great public walking track which skirts or is even on the private land (thanks to their generosity).
You access it by parking at the public car park by the surf club and walking along the beach (except at high tide). About 1km along the beach, you go up a very steep hill at the start of the track.
That takes you around to lots of bays north of the heads, and offers spectacular views.
Or you can just walk along the coast and then come back on the track.
It is fairly shallow country, with lots of gutters and foul. I guess tossing unweighted baits into likely looking wash would produce fish - in fact I've seen LBG's article in a fishing mag where he got a 5kg snapper in that area doing just that (after a storm).
I would say that surf casting with sinkers would be a recipe for lots of lost gear due to snags.
Visibility may be an issue for spear fishing, I imagine, due to the shallow water and swells stirring up the bottom?