The 33-year-old man was standing outside Gateshead Toyota on the Pacific Highway about 6pm last night when he was approached by two youths who had been hanging around the area for some time.

The pair demanded money from the man and grabbed him when he refused.

The victim managed to fight the two kids off but one produced a knife and he fled, leaving behind his lunch bag and a document folder.

When he returned a short time later the thieves and the folder, containing his wallet and small amount of cash were gone.

Police searched the surrounding area but were unable to find any sign of the teenaged offenders.

The victim said both were aged about 14 and about 150-160cm tall.

One was fair haired with a dark complexion and was wearing a dark jumper and black, tight-fitting jeans at the time of the attack.

The other has been described as tubby with light haired and freckles.

He was wearing a white hooded jumper, dark

pants and white shoes.

Anyone with further information should contact Lake Macquarie police on 4942 9999 or Crime Stoppers on 1800 333 000.