Police were called to the Landseer Street premises after reports of an aggravated burglary shortly after 10pm.

Investigators have been told the offender allegedly forced entry to the house via the rear door.

Two occupants who were present left via the front door without injury, two other occupants were allegedly held inside the house.

Specialist police were deployed to the scene and commenced negotiating with the man.

At 3.40am, a 28-year-old man from Castlemaine was arrested at the scene.

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The two occupants held inside the premises were not physically injured.

Investigators believe all parties are known to each other.

The man is currently assisting police with their enquiries and is expected to be charged with aggravated burglary and two counts of unlawful imprisonment.

He will face Bendigo Magistrates Court on Monday.