The Bay of Islands house built by one of New Zealand's most notorious drug lords is on the market again.

The waterfront mansion was built for Terry Clark, who headed the Mr Asia international drug syndicate that smuggled millions of dollars worth of heroin in to New Zealand, Australia and the UK the 1970s.

The 1.75ha property is on Okiato Point on the Russell side of the bay.

The private peninsula is surrounded by water and comes with two houses, a jetty and floating dock, its own beach, riparian rights and landscaped grounds with golf cart pathways.

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It was marketed in early 2015 with a rateable value of $2.35m.

This time, the asking price is $6.9m.

A spokesman for the owners, who bought it in 1997, said it had been taken off the market in May for additional work.