AN ALADDIN'S cave of property worth an estimated $2 million has been discovered in a police bust on a set of sheds on Brisbane's south side.

The goods include up to 30 cars and motorbikes and an estimated $1 million in jewellery, believed to be stolen or from the proceeds of crime.

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Police say they are amazed at the find in five or six sheds at Musgrave Rd, Coopers Plains, where dozens of officers are documenting the property.

"At this stage it looks like in excess of $2 million in property," said Detective Inspector Brendan Smith.

"We'll be slowly processing it and once we've identified everything we'll be contacting complainants to try and return some of the property to the relevant owners.

"There's a person of interest at the moment we are talking to. He rents the sheds and runs a business here. We're not quite sure what that business is at this point."

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It would be alleged some of the property was proceeds of crime from drug activity, he said.

"Some of the property already has been located has come from break and enters in Logan and south Brisbane.

"What we probably intend to do is once we process it we will put it all in the police blog and people can look at that."

The stolen property had been stored at the sheds for some months.

"It would appear it is quite an extensive business in relation to the property and hopefully we'll get to the bottom of that soon.

"It would appear at this stage some of it has been on sold."

The raid followed information from the public and a police investigation.

"There's cupboard full of jewellery. There's I'd say near a million dollars worth of jewellery let alone anything else.

"There's just property everywhere.

"I was amazed. It's quite extensive and every shed you go into is full so it just gets bigger and better.

"The jewellery for example has obviously come from people's homes but vehicles have come through stealing and also probably proceeds."

Some items including motorbikes were new and unused.

Investigations indicated there was a link to the drug trade, with two people assisting police.

"We're looking at the possibility they may be receivers of the property."