An Auckland man arrested in connection with a $1 million P bust at the Picton ferry this morning has been granted bail.

A 22-year-old man was arrested after his vehicle was stopped by armed police coming off the Cook Strait ferry shortly after midnight allegedly carrying around 1kg of methamphetamine.

READ MORE: $1 million drug bust on Cook Strait ferry

It led to police raiding a suspected gang house in the Christchurch suburb of Papanui later in the morning.

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Police said a house in the Auckland suburb of Greenlane was also raided in what has been described as a "coordinated police operation to interrupt the supply of illegal drugs in New Zealand".

"A search of the property resulted in a large quantity of cash being seized along with smaller amounts of methamphetamine," said Detective Inspector Stu Graham of Organised and Financial Crime Agency New Zealand.

Two people at the property were arrested.

Daryn Bruce Catley, 29, appeared at Auckland District Court this afternoon charged with supplying methamphetamine, possession of methamphetamine and unlawful possession of a Taser.

He was granted bail on strict conditions by Judge Ajit Singh.

Catley was ordered to remain at the Greenlane property 24 hours a day, not to possess a cell phone, not to apply for a passport and not to travel to the South Island.

A 34-year-old woman has also been summonsed to appear at Auckland District Court on Monday charged with possession of methamphetamine.

The 22-year-old defendant is due to appear at Blenheim District Court today charged with possession of methamphetamine for supply.

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Police investigations are continuing.Armed police remain at the scene of the suspected Christchurch gang pad.

"New Zealand Police are committed to interrupting the supply of illegal drugs in New Zealand and preventing the social harm this illegal activity supports," Mr Graham said.