The Lower Wye Creek Walking Track in Queenstown is a rewarding hike that boasts fantastic panoramic views of Lake Wakatipu, Bayonet Peaks and the town center. The track follows an old pipe line before winding its way through the native beech forest and passing by a stunning natural waterfall.
At this point you can continue on up the lower Wye Creek route towards the saddle OR I recommend crossing the bridge here and following the pipes to another waterfall that I have pinned separately.