Police are appealing for information following an armed robbery in Cheltenham this afternoon.

Investigators have been told that at around 1.30pm two males, both possibly in their teens, were walking along Bernard Street when they were confronted by a group of men who allegedly demanded wallets and phones from them.

Witnesses contacted police and upon arrival, an altercation took place between police and the group of men.

Three 18-year-old men from Bentleigh, Mount Waverley and Springvale are currently assisting police with enquiries.

Police are appealing to anyone with information about the armed robbery to contact Crime Stoppers on 1800 333 000 or visit www.crimestoppers.com.au.