Right on the beach at Point Roadknight is this tiny shack bar above the Anglesea Motor Yacht Club. It's popular with locals, and only opens for a few hours for sunset in the summer, and on weekends till Easter.
The town's only pub has a generic set up with mainstream beers, chicken parmas, TAB etc. It does occasional live entertainment too; check its website for upcoming shows. Round the back are motel-style rooms for $99.