Police have arrested three teenagers and located a stolen car following an aggravated burglary in Waurn Ponds this morning.
Investigators were told two offenders entered a residence on Rene Street about 12.10am and demanded the keys to a white Mercedes car.
It is alleged one of the offenders assaulted the sole house occupant before stealing a mobile phone, ipad and two watches before fleeing in the stolen car.
The victim, a 29-year-old man was uninjured.
At about 12.30am police observed the stolen car on Barrabool Road where it took off from police before crashing near the intersection of High Street and Barrabool Road in Belmont.
Three females and a male ran from the car and the females were arrested by police nearby with the alleged stolen property in their possession.
An 18-year-old Bannockburn woman, a 17-year-old North Geelong girl and a 15-year-old Grovedale girl are in custody and assisting police with their enquiries.
The male is yet to be located and the investigation is ongoing.
Anyone with information is urged to contact Crime Stoppers on 1800 333 000 or submit a confidential crime report at www.crimestoppersvic.com.au