A Ford Focus, Toyota Celica and a Peugeot people carrier taxi have all sustained substantial damage in the incident, the specific details of which are currently unknown.
No one is believed to have been injured in the collision which occurred around 21:00.
The road remains open in both directions and recovery of the vehicles has been arranged.
Police are on scene.
UPDATE THURSDAY: Island Echo understands the taxi collided with a car whilst travelling northbound on East Hill Road, resulting in the vehicle being shunted and causing damage to other parked cars.
No one was injured in the incident and all vehicles were recovered. The incident is now in the hands of insurance companies.