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I like Frankton much better than Queenstown. It is not as big or crowded. Beautiful walking/biking trail abound the lake. Biking trail to Queenstown and Arrowtown from Frankton. I did them all.
Lovely owners with lovely premises, but we found the issues with the external stairs and lack of parking facilities a big problem. We also felt for the money we paid, we were expecting a little more. Eg: Bathroom/toilet sharing, parking etc. we could have possibly got it all at a motel....