At just gone 17:00, the fire service were alerted to smoke issuing from the carriageway near to the junction with Preston Close, prompting the turnout of an appliance from the nearby Ryde Fire Station.
Firefighters have been able to establish that a section of the gutter at the side of the road has lifted as a result of an incident involving a power cable.
Due to the wet conditions and potentially live power supply, pedestrians are currently unable to walk along the road. The road has also been closed to all traffic.
Scottish and Southern Electricity Networks have been informed and engineers are being deployed to the scene.
UPDATE @ 17:50 – The road remains closed, with Police now on scene.
Motorists are being diverted via High Park Road in both directions, whilst Southern Vectis buses are diverting via Marlborough Road until further notice.
A few properties in the immediate area have lost power.
UPDATE @ 18:43 – Great Preston Road has now reopened to all traffic and pedestrians.
SSEN engineers are now on scene and working to repair the affected cable.
Around 10 properties remain without power supply this evening, although it is hoped to have them reconnected by 21:30.