A 74-year-old man was robbed at knifepoint by two assailants in the early hours of Friday morning, Police have revealed.

Police are currently investigating the robbery which took place near the Coral beach Club at roughly 4 a.m.

The victim was carrying a substantial amount of money in order to pay employees at a construction site.

Police are uncertain whether the man was targeted specifically by the robbers.

They think its possible the men knew the victim would be carrying a significant amount of cash in his car at that time.

The victim was driving towards the site when the two men came out of the bushes and stopped his progress.

They were both carrying knives and demanded that he hand over cash.

One man grabbed the payroll cash from the front seat before the two fled on foot.

Police are asking anyone who might be able to assist the investigation to contact them on 295-0011.