Revelle Balmain, then aged 22, was last seen in the Kingsford area on Saturday 5 November 1994.

She never met her mother at Newcastle train station as planned.

Decades on, police have this week conducted several raids across Sydney as part of Strike Force Aramac, a look at the case that a coronial inquest in 1999 found had likely ended in Ms Balmain's death at the hands of persons unknown.

Searching properties in Maroubra and Randwick on Thursday, police also carried out a crime scene warrant in Surry Hills.

"As part of the re-investigation, Strike Force Aramac officers uncovered information relating to a criminal syndicate operating across Sydney, allegedly involved in the cultivation and supply of prohibited drugs, as well as the coordinated theft and on-sale of luxury goods," police said in a statement.

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Police will allege their searches led them to find indoor hydroponic cannabis set-ups at three units in Randwick containing 102 cannabis plants and eight kilograms of dried cannabis.

Investigators estimate the items had a potential street value of more than $400,000.

At Maroubra, officers found what police dubbed an Aladdin's cave of suspected stolen luxury goods including clothes, shoes, watches, handbags and alcohol.

They estimate the luxury goods to be worth more than $150,000.

Five men aged between 50 and 65 were arrested.

A 63-year-old Maroubra man was charged with 36 offences including; 29 counts of shoplifting, two counts of enter inclosed land not prescribed premises without lawful excuse, two counts of take part cultivate cannabis (indictable quantity), goods in personal custody suspected being stolen (not motor vehicle), deal with property proceeds of crime and participate criminal group contribute criminal activity.

A 59-year-old Randwick man was charged with 21 offences including; 16 counts of shoplifting, two counts of enhanced indoor cultivate cannabis for commercial purpose, supply cannabis (indictable quantity), goods in personal custody suspected being stolen (not motor vehicle), and participate criminal group contribute criminal activity.

A 65-year-old Randwick man was charged with enhanced indoor cultivate cannabis for commercial purpose, possess prohibited drug, deal with property proceeds of crime, and participate criminal group contribute criminal activity.

A second 65-year-old Randwick man was charged with enhanced indoor cultivate cannabis for commercial purpose, participate criminal group contribute criminal activity, supply cannabis (indictable quantity), and deal with property proceeds of crime.

A 50-year-old Matraville man was charged with enhanced indoor cultivate cannabis for commercial purpose, participate criminal group contribute criminal activity, supply cannabis (indictable quantity), and deal with property proceeds of crime.

All five are due to face Central Local Court on Friday.

Investigations under Strike Force Aramac are ongoing, with a $1 million reward in place for information that leads to the arrest and conviction of those responsible for Revelle's disappearance and suspected murder.

Anyone with information is urged to call Crime Stoppers on 1800 333 000.

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