Rotaxanes are typically prepared using covalent bonds to trap a wheel component onto an axle molecule, and rotaxane-type wheel–axle assembly using only noncovalent interactions has been far less explored. Here we show that a dinickel(II) metallomacrocycle forms two different types of wheel–axle assemblies with a dibenzylammonium axle molecule based only on noncovalent interactions. The non-threaded assembly was obtained by introduction of Ni2+ into the macrocycle before the complexation with the axle molecule (metal-first method). The non-threaded assembly was in rapid equilibrium with each of the components in solution. The threaded assembly was obtained by introduction of Ni2+ after the formation of a pseudorotaxane from the non-metalated wheel and the axle molecule (axle-first method). The threaded assembly was not in equilibrium with the dissociated species even though it was maintained only by noncovalent interactions. Thus, formation of one of the non-threaded and threaded wheel–axle assemblies over the other is governed by the assembly pathway.