Thieves wearing balaclavas ripped a cash machine out of a wall in Manningtree in Essex damaging a Porsche during the raid.
The NatWest ATM, on Brook Street, was pulled from the wall just before 2.10am this morning, causing extensive damage to the building.
A number of cars were damaged during the theft including a silver convertible Porsche car.
A police spokesman said the thieves used a forklift truck to create a hole in the building and dragged the cash machine out.
He said: “Shortly after the cash machine was removed, officers engaged in a pursuit of three vehicles which were seen travelling along Clacton Road into Dead Lane, Lawford. “These vehicles - a Toyota pick-up truck, a blue Audi and a black Ford Fiesta - were believed to be driven by the suspects.”
She said following the pursuit, the pick-up and Fiesta were recovered but the suspects fled in the blue Audi.
The Audi was recovered later in Wyncolls Road, Colchester and had been set alight.
Witnesses have described two suspects however, due to the number of vehicles involved, it is believed there were more than two people involved in the theft.
One man is described as white, wearing a plain hoodie and jeans. The other is described as stocky, wearing grey tracksuit bottoms.
Stuart Kennedy, who bought the Porsche car damaged during the raid for his wife as a gift last year, said the thieves had used their vehicle to ‘square up’ the cash machine so it could be picked up by the forklift.
He said: “They came down Brook Street towards the Indian takeaway and smashed straight into the wall.
“They then used the back of a car to square it up on the forks of this pallet loader.
“Once they had done that they went off up the hill with it on top of the loader followed by a string of sparks.”
There have been a number of recent raids on cash machines in East Anglia.
On May 1, a cash machine in Sible Hedingham near Halstead was stolen during a ram raid on the village’s Co-op store.
Masked suspects drove a JCB into the front of the shop in Swan Street at around 3am.
DCI Josie Hayes, said: “It is not known at this time if this incident is connected to the theft of a cash machine in Swan Street, Sible Hedingham on Monday, May 1.
“However, detectives from the Serious and Organised Crime Unit are keeping an open mind with regards to the similarities of the offences as they pursue numerous lines of enquiry.”
Anyone with any information is asked to contact the Serious & Organised Crime Unit on 101 or Crimestoppers on 0800 555 111
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