NEW SOUTH Wales Police have charged a man after $675,000 worth of liquid MDMA was discovered in an air-cargo consignment.

The Australian Border Force examined a consignment that arrived in Sydney from the UK on 25 December after receiving intelligence information.

Officers noted inconsistencies in the consignment, which was declared to contain wine bottles.

During a subsequent deconstruction, the consignment was found to contain 4.5 kilograms of clear liquid in the bottles.

The ABF tested the liquid, which returned a presumptive positive result for MDMA

According to the ABF, 4.5 kilograms of MDMA has an estimated potential street value of $675,000.

Redfern Region Enforcement Squad seized the consignment and conducted a controlled delivery.

Following extensive inquiries, detectives, with assistance from the Central Metropolitan Operations Support Group (OSG) arrested a 63-year-old man during a vehicle stop on Lang Road, Moore Park, just before 11.30am on Thursday 7 January.

A short time later, officers raided a restaurant at Woollahra and home at Bankstown.

During the searches, investigators seized more than $25,800 cash and electronic devices.

The Bankstown man was taken to Surry Hills Police Station and charged with possess commercial quantity of unlawful import (border controlled drug).

He was refused bail to appear at Parramatta Local Court on Friday.

Police said investigations under Strike Force Dices are continuing.