Just before 10.30 pm it was reported that a man was approached as he left a premises in the area by two men, one of which is believed to have been carrying a suspected firearm. They tied the man up and put him in the back of his own vehicle.
During the robbery a number of legally held firearms were taken.
The man was uninjured but left shaken.
Detective Inspector Harry Colgan said: “I am appealing to anyone who has any information about this incident or saw any suspicious activity in the area around this time to contact CID in Newtownards Police Station on the non emergency number 101,
“Or if someone would prefer to provide information without giving their details, they can contact the independent charity Crimestoppers and speak to them anonymously on 0800 555 111.”