Detectives from Taskforce Lunar will investigate the circumstances surrounding an arson at a cycling store underneath a gym in Brunswick East in the early hours of the morning.
Emergency services were called to the Lygon Street scene following reports a black BMW was seen ramming the garage door of the ground floor business about 2.55am.
It is believed the offenders used the stolen car to ram the door, before exiting the stolen BMW X5, entering the store and setting it alight.
Police have been told one of the male offenders also set fire to his arm in the process, forcing him to flee the scene on foot.
The group was last seen running towards Nicholson Street.
Investigators believe the gymnasium above the cycling store was the intended target of the attack and are treating the incident as targeted.
No one else was physically injured in the fire, but the building sustained significant damage.
Investigators believe the BMW was stolen from a Heatherton address on 3 October.
The investigation remains ongoing.
Anyone with information or dashcam/CCTV footage is urged to contact Crime Stoppers on 1800 333 000 or submit a confidential report online at www.crimestoppersvic.com.au
