Firefighters are tackling a fire at the site of the derelict Royal York Hotel in Ryde.
Four pumps are dealing with the blaze, having been alerted at 6.52pm.
Hampshire and Isle of Wight Fire and Rescue Service said the fire broke out on the first floor of a property.
George Street is currently closed from its junction with Cross Street.
Fire crews remain on scene as of 9.30pm.
UPDATE
The fire is now out.
Firefighters have stood down.
The road has reopened in both directions.