$2 million worth of ice seized in Sydney raid

NEW South Wales Police have seized more than $2 million of the drug ice and a large amount of cash following a raid on an inner Sydney home.

A man, 59, was arrested and charged with supplying a commercial quantity of prohibited drugs and dealing in the proceeds of crime as a result of the raid.

Officers from the Redfern Region Enforcement Squad raided the home in Phillip St, Glebe following a lengthy investigation.

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NSW Police said in a statement they found a large amount of drugs, believed to be methylamphetamines, $25,000 cash and other drug-related items inside the home.

"The drugs, with an estimated street value of over $2 million, cash, and other items were seized and will undergo forensic examinations."

The man was refused bail and will appear in court at a future date.

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