Knife-wielding robbers raided a bureau de change and cycled off with thousands of pounds of cash.

The crooks threatened staff at The Coin Shop in The Drive, Hove, at about 4.45pm today.

The men then barged behind the counter and grabbed the money before riding off on their push bikes.

Members of the public who saw the robbery chased the offenders on foot and a taxi driver followed them in his vehicle.

Police arrested a 37-year-old man in Sackville Road, Hove, on suspicion of robbery. This evening he was being held in custody for questioning.

A second man was still at large and police have appealed for anyone with information about where he is to come forward.

Officers have taken statements from about a dozen witnesses and have been checking CCTV footage recorded in the area to see if it reveals who the offenders were and where they fled to.

A Sussex Police community support officer also saw the men trying to leave the scene of the crime on their bikes.

Detective Constable Dave Roughley, of Hove CID, said: "The men threatened staff with a large knife and got away with a large quantity of cash.

"They cycled off on their bikes and and there were lots of members of the public outside who gave chase.

"A taxi driver followed one of the men and helped police find and arrest him in Sackville Road.

"They dropped some money outside the shop and honest members of the public picked it up and handed it in.

"It is a very serious attack and they are obviously dangerous. We still have one outstanding individual who we are actively looking for."

Following the robbery, the men split up and one cycled off down The Drive while the other fled along Church Road towards New Church Road.

Police said the woman and elderly man who were working at the bureau de change were not injured but had been shaken up by the ordeal.

Officers were unable to reveal how much cash was stolen but said the crooks got away with less than £10,000.

They were also unable to reveal how much money had been picked up outside the shop and returned to its owners.

The men have been described as in their 30s, wearing blue and dark coloured puffer jackets and ski hats.

Police want to hear from anyone who saw the robbery or who noticed anybody matching these descriptions cycling in the area.

Witnesses should call DC Dave Roughley at Hove CID on 0845 6070999 or Crimestoppers anonymously on 0800 555111.