John Beyer, 27, of Kentbruck Road, Heywood, and Kelvin Dempsey, 36, of Kauri Crescent, Portland, were arrested, charged and unsuccessfully applied for bail in the Warrnambool Magistrates Court on Wednesday.

They were remanded in custody to appear at a court committal mention on January 27 next year.

The alleged victim was scheduled to have surgery on Thursday for facial injuries including fractures.

Mr Dempsey has been charged with intentionally causing serious injury, recklessly causing serious injury, making threats to kill, armed robbery, theft of motor vehicle and committing a serious offence on bail.

Mr Beyer was charged with the same offences plus an unrelated burglary and theft.

The court heard that at 11.30pm on October 13, a 38-year-old Portland man was lured to an address in Portland's Kauri Crescent.

There was a discussion between him and two men in the house before the visitor was seriously assaulted by both the men.

The victim left with one of the men and went to his home, where he obtained the keys to a $10,000 Ducati motorbike and gave them to the other man who rode off on the motorbike.

Police said the victim was treated the next day for head injuries at the Portland Base Hospital.

On Wednesday, Portland and Hamilton detectives executed search warrants at the Kauri Crescent home and another address at Heywood and Mr Dempsey and Mr Beyer were arrested.