Multiple Police units are in attendance on Ashey Road at the junction of Deacons Lane where a search has been carried out by officers on the ground, including a local dog unit.
A suspect has been found in amongst woodland and a private garden. He has now been cuffed and placed in the back of a cell van.
The arrested individual is being transported to Newport Police Station for questioning.
It is understood a vehicle – a red hatchback – has been located on private land just off Deacons Lane.
According to witnesses, Police were seen pursuing a car in the general area.
UPDATE – Luke Dennis James Whitewood, 24, of Coronation Gardens in Shanklin has been charged with driving a motor vehicle dangerously. He is to appear before the Isle of Wight Magistrates Court on 21st May.