The incident took place around 4pm on Wednesday 5 February at Northgate car park, Chichester.
A 34-year-old man was assaulted and had a quantity of cash stolen.
The victim suffered facial injuries, and his mobile phone was also damaged.
A 45-year-old man from Bognor has since been arrested and released on bail while enquiries take place.
Sussex Police urge anyone with information to contact them via 101, quoting serial 842 of 05/02.
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