I think this confirms the White Bay answer. I doubt this location exists anymore. The entire Glebe Island Silos area has been heavily redeveloped since the 90s.
There was a film studio out at White Bay they filmed some of the movie at too which was demolished shortly after which likely explains the general location.
The movie certainly benefitted from filming in Sydney right before all the urban renewal kicked off. Doubt you'd be able to commander a train and a disused platform space today on their budget.
I think this confirms the White Bay answer. I doubt this location exists anymore. The entire Glebe Island Silos area has been heavily redeveloped since the 90s.