Police are investigating the armed robbery of a licensed venue in Alderley overnight.

Initial investigations indicate at 10:30pm two men, one armed with a small axe and the other with a knife, entered the business on Samford Road.

The two men threatened staff and patrons before demanding cash.

The staff and patrons complied with their demands before the pair fled the scene in the direction of Elgin Street.

No one was physically injured during the incident.

Both men are described as approximately 170cm-180cm tall, of slim builds and aged in their mid-late 20s.

Police are appealing for anyone with information to contact Crime Stoppers or the Hendra Criminal Investigation Branch.

Investigations are continuing.