Thieves targeted the flood-ravaged school, stealing more than 30 bikes and helmets donated by children’s charity Variety Victoria during its annual rally event.
The bikes, worth more than $21,000, had been ridden by students only a handful of times before the theft.
Detectives say offenders forced entry into a storage shed on school property, in Edward St, sometime between May 24 and June 2.
Detective Senior Constable James Scambler of the Campaspe Criminal Investigation Unit said police were at an address for an unrelated matter when they discovered the bikes.
“We have identified some suspects, but we are still making further inquiries,” Det Sen Constable Scambler said.
“We expect to make an arrest in the near future.”
Speaking with Campaspe News in June, principal Melissa Gould said the school was shattered by the callous act.
Det Sen Constable Scambler said the secondary college was extremely relieved when informed by officers about the recovery.