This paper describes the measurement of the W boson mass, M W , and decay width, Γ W , from the direct reconstruction of the invariant mass of its decay products in W pair events collected at a mean centre-of-mass energy of √ s=172.12 GeV with the OPAL detector at LEP. Measurements of the W pair production cross-section, the W decay branching fractions and properties of the W decay final states are also described. A total of 120 candidate W + W − events has been selected for an integrated luminosity of 10.36 pb −1 . The W + W − production cross-section is measured to be σ WW = 12.3±1.3(stat.) ±0.3(syst.) pb, consistent with the Standard Model expectation. The W + W − → qqℓν ℓ and W + W − → qqqq final states are used to obtain a direct measurement of Γ W = 1.30 +0.62 −0.55 (stat.) ± 0.18(syst.) GeV. Assuming the Standard Model relation between M W and Γ W , the W boson mass is measured to be M W = 80.32 ± 0.30(stat.) ± 0.09(syst.) GeV. The event properties of the fullyhadronic decays of W + W − events are compared to those of the semi-leptonic decays. At the current level of precision there is no evidence for effects of colour reconnection in the observables studied. Combining data recorded by OPAL at √ s ∼ 161-172 GeV, the W boson branching fraction to hadrons is determined to be 69.8 +3.0 −3.2 (stat.) ±0.7(syst.)%, consistent with the prediction of the Standard Model. The combined mass measurement from direct reconstruction and from the W + W − production crosssections measured at √ s ∼ 161 and √ s ∼ 172 GeV is M W = 80.35 ± 0.24(stat.) ± 0.07(syst.) GeV.