The modern history of this part of Portland began when Captain Lorenzo Dow Baker, "the Banana King" purchased the western portion, then called Cold Harbour Estates in 1902 from the Crown.
He was president of a family conglomerate that included manufacturers of plastics, glass and steel as well as container leasing and electric power companies.
In addition to Alligator Head the Baron had homes in Italy, London, rural England, Paris, Monaco, Spain and Villa Favorita in Switzerland.
On the hills above Blue Lagoon the property owners included Prince Sadruddin Aga Khan who had a 29-acre estate and the neighbouring Princess Island (a.k.a.
In 1956 Cold Harbour sold 45 acres (18 ha) to Garfield Weston, the Canadian biscuit mogul, for the creation of Frenchman's Cove Resort.