It is the highest value of assets restrained by Southern Police in relation to the illegal drugs trade under the Proceeds of Crime (Recovery) Act.
Last week five men were arrested in relation to the large-scale commercial cannabis growing operations, thought to be linked to a multimillion-dollar syndicate.
Detective Senior Sergeant Malcolm Inglis said under the Act, Southern police had put restraining orders on two Queenstown Lakes properties, with a combined value of $1.2 million, and an Invercargill property worth about $380,000.
Other assets restrained included about $100,000 in cash, a boat worth $38,000 and two vehicles worth about $45,000.
"Restraining the ill-gotten assets of people involved in organised criminal activity continues to be an important commitment for us."
Operation Canary, which terminated on Thursday was a four-year operation targeting large-scale cannabis cultivation across Western Southland, Fiordland and the Queenstown Lakes.
Five men have now appeared in either the Queenstown or Invercargill District Courts.
Brian Anthony McCarthy (62), of Arthurs Point, faces a total of 24 charges, 19 of which are for cultivating the Class C controlled drug and Andrew John Grant (42), unemployed, of Glenorchy, faces one charge of cultivating cannabis, laid jointly with McCarthy.
Both men are due to appear in the Queenstown District Court on July 16.
David Christopher Payne (42), accountant, of Invercargill and Brodie Raymond Anderson (23), of Mossburn, are due to appear in the Invercargill District Court on July 13.
Payne faces 11 charges of cultivating cannabis and one of possessing cannabis for the purpose of selling, or offering to sell.
Anderson faces a total of 62 charges including 42 of offering to sell cannabis and 17 of possessing the drug for the purpose of selling or offering to sell.
A fifth man, aged 55 from Queenstown, was granted interim name suppression in the Queenstown District Court yesterday and was remanded to reappear on July 16.
Det Snr Sgt Inglis said at least two arrests were pending.
