Illawarra men Jerome Lawrence and Mario Francisco are behind bars, accused of carrying out the targeted attack at the man’s partially completed home under the cover of darkness.

Police allege the pair broke into the house while the man was out and lay in wait, launching their attack as he walked through the front door around 4.30am.

One assailant hit him in the face with a crowbar, causing him to collapse.

He was then hit ‘‘a few more times’’ by an unknown object wielded by the second attacker, police said.

The victim later told police he recognised the pair straight away – allegedly identifying them as Francisco, an acquaintance, and Lawrence, who he knew was an Aboriginal man from Coniston who went by the nickname ‘‘Fatty’’.

He claimed the pair threatened to shoot him, although he said he did not see them carrying a gun, before demanding he pay them $20,000 ‘‘for a drug related debt’’.

Police noted in their statement to Port Kembla Local Court on Thursday that they were aware the victim had drug links.

When he refused to hand over cash, Francisco allegedly ordered the man out of the house and bundled him into a red Hyundai Excel while Lawrence drove the man's blue Holden ute.

Police said the commotion created by the three men at this time was loud enough to wake several neighbours, who phoned triple-0.

The two cars drove along Farmborough Road towards the Princes Highway intersection at Unanderra, where the victim claims he was able to jump out of the still-moving Excel when it slowed down.

He said he had tried to run off but was hit by the Excel and thrown into the air, coming down heavily on his shoulders.

He picked himself up and ran to a nearby house, calling out for the occupants to phone police.

Both cars were seen speeding away from the scene, police said.

The man was taken to hospital for treatment to a broken hand, concussion and numerous cuts and bruises.

Police set up a crime scene at the man's house, allegedly locating duct tape, a metre-long piece of wood and drops of blood.

Blood was also found at the second crime scene near the highway intersection, court documents said.

Meantime, police received a call from a man at Yellow Rock around 8 o'clock on Wednesday morning saying he'd found a Holden ute bogged and abandoned on his property, and had seen a red car acting suspiciously.

Police arrived at Yellow Rock Lane minutes later, where they found Francisco, Lawrence and a third man standing next to the Excel and a yellow Mitsubishi Lancer.

The trio was arrested and the vehicles searched. Officers allegedly located the injured man's wallet and keys, as well as two pairs of gloves containing blood spots.

Blood was also allegedly found on the clothing worn by Francisco and Lawrence at the time.

Francisco and Lawrence were charged with assault and kidnapping offences. The third man was released without charge.

Francisco and Lawrence were denied bail in court on Thursday and remanded in custody until their next appearance, in May.