Cheetham Salt established a series of ponds in the 1920s where sea water was fed into the shallow ponds and allowed to evaporate. Dried salt was then harvested from the floor of the lagoons. This operation continued until the early 1990s, when the site was purchased by the Victorian Government. The more environmentally important bayside part of the original saltworks now comprises Cheetham Wetlands which make up the migratory bird habitat and conservation area that is there today. The higher, western section is being developed privately by various housing estates, such as Sanctuary Lakes that are there today. In 1948 Point Cook hosted the Australian Grand Prix, which was held at the Point Cook RAAF Base. The race was won by Frank Pratt driving a BMW 328.