UPDATE: Police have arrested a second offender who was allegedly involved in a firearm incident and car chase in Bunbury last night.
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Bunbury police have arrested a 31-year-old man in Carey Park with the help of Bunbury's canine unit.
Bunbury detectives have confirmed that all firearms have been recovered from yesterday's burglary.
Police have also located a number of stolen items.
According to police a series of events allegedly involving two men ended with a car chase and one of the offenders escaping.
Between 7.30am and 5.15pm yesterday police say three firearms and ammunition were reported as stolen from a home in Carey Park.
Later that night between 8.10pm and 8.20pm two men were leaving the Parade Hotel on Austral Parade when they became suspicious of another man standing near one of their vehicles.
Police said a scuffle took place and a second man appeared with a firearm and pointed it to the two victims and threatened to shoot.
The two victims immediately backed away and returned to the Parade Hotel fearing for their safety.
A white Mitsubishi Triton dual-cab was seen leaving the area about that time.
According to police a car matching the previous description was seen about 10.25pm. Bunbury Police officers pursued the vehicle before it was abandoned near the Bunbury Cememtery.
Several police were called to the scene to assist with a search for two men who occupied the vehicle.
Anyone with information on these incidents contact Crime Stoppers on 9722 2032.