A man forcibly snatched a bright red bike from its owner in broad daylight outside the railway station.
Police are seeking witnesses to the robbery, which took place in Terminus Road at about 12.45pm on March 6.
The bike, belonging to a 30-year-old man from Eastbourne, was later recovered from the cellar of a nearby shop where it had been damaged.
Anyone who saw what happened or who may have other information is asked to email firstname.lastname@example.org or phone 101, quoting serial 654 of 06/03.
Alternatively they can contact the independent charity Crimestoppers anonymously on 0800 555 111 (www.crimestoppers-org.uk).
A 35-year-old man from Eastbourne, has been arrested on suspicion of robbery and bailed until 25 April 25 while enquiries continue.
A 31-year old man, also from Eastbourne, has been arrested and bailed until the same date on suspicion of conspiracy to rob.
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