The preserved line begins at the northern end of the Lepperton Railway Yards and continues parallel to the Marton - New Plymouth Railway for a few hundred meters before turning right towards the Waiongana Stream. After crossing the stream the line runs to the former Waitara Road station in Brixton. The line continues from here towards Waitara, passing underneath State Highway 3 at Big Jim's Overpass. Finally, the line drops into the Waitara Valley and into the township of Waitara, finishing just before the Waitara River. In Waitara, most of the infrastructure is gone with only the main line and one loop remaining in the yard. The former Tahora station has been relocated to Waitara Road, where the society's rolling stock is stored. The site of the Lepperton railway station & yard is still owned and operated by KiwiRail, where the station building was removed in 1994. The branch line has 8 level crossings along its length, all of which are protected by compulsory stop signs. Issues with these were raised in the community in 2004 as legally traffic has to stop even though trains seldom ran more than once a month. The Land Transport Safety Authority would not allow Give Way signs and reinstating bells and lights had been reported as costing over $250,000 per crossing making installation unlikely for foreseeable future. Rail operations have become more frequent since then but motorists failing to stop for the societies trains is still an issue.
Locomotives
The Waitara Railway Preservation Society owns a number of diesel shunting locomotives, either operational or awaiting restoration. These include:
Drewry Makers number 2507, diesel locomotive built in 1954 for Northland Fertiliser Co, Whangarei
Dsa 240 diesel locomotive, built by Bagnall in 1956
Bagnall Makers number 3144, diesel locomotive built in 1958 for Portland Cement. Donated to the Taranaki Flyer Society Incorporated in 2010 but returned in 2013 when that group folded.
Locomotives formerly leased or owned by the society include:
FA 250 steam locomotive, built 1892, leased from the Waikato branch of the NZR&LS
Rolling stock
The WRPS's collection of rolling stock consists of both passenger carriages and freight wagons, and is either owned outright by the society or is leased from the New ZealandRail Heritage Trust.
Operation
Trains are run twice daily on the first and third Sundays of the month, departing from Waitara. The trip takes 45 minutes return, including a stop at The Former Tahora Station on the return journey for refreshments. The railway also offers charter services by arrangement. Since around 2007, trains had only journeyed as far as the Waiongana River bridge due to the deterioration of the sleepers on the structure. In April 2014 the bridge was re-sleepered and maintenance completed on the main bridge structure. This has allowed trains to return to the entire branch line. In 2019 the society entered into a lease to the Lepperton railway sidings which will allow locomotives to switch ends of the train. As part of this agreement, the society is building a new linking track to bypass the Kiwirails network which is under Centralised Traffic Control.