A car and safe stolen from the Central Motor Speedway Club in Cromwell were found submerged in lower Manorburn Dam near Alexandra today.
Police said thieves broke into the clubrooms on Sandflat Rd last night, taking a 1996 grey Toyota Prado and a safe.
The car was found at approximately 11.20am today.
Cromwell police ask anyone with information, including sightings of the Toyota Prado between Cromwell and Manorburn to phone (03) 440 2500.
Information can be provided anonymously through Crimestoppers on 0800 555 111.