Sydney has a few popular lake rides that you can easily ride around. They are Iron Cove, Narrabeen Lagoon and Penrith on the Nepean River. But the Georges River throws up a far bigger challenge out near Liverpool and its called Chipping Norton Lake. Technically its just a large bulge in the river but as a bike rider, this means little. Its the the challenge of finding your way around 30 kms of very diverse paths that you should be seeking.
This video which starts in the lovely suburb of Moorebank shows you what you will encounter if you ride the lake in an anticlockwise direction. We started the ride by unloading the bikes after driving up the busy M5 motorway from the city. The ride uses the Carramar trail and the Chipping Norton ride which is included in the around Sydney trail. Here is the video, best to view on a big screen in full screen mode.
Please be aware that the trail can go through some areas where you are lucky to see a person every km. The trail is fine, its just remote which is unusual for the middle of a city.