The 'Isle of Wight County Press' would I suggest be your first source for press reports. Unfortunately their archive is not available online without paying. Though in my time on the Isle of Wight, 'The County Press' as known locally, had a full set of archives one could examine, plus the Isle of Wight Library had an archive of same.
I can't help further, sorry, other than to state that is Cowes Promenade in the foreground, and probably another Beken photograph. Bekens Chemists/Pharmacists in Cowes High Street was still owned by the Beken family when I last ordered Ferric Chloride solution, with the shop being adorned with big yachting photographs.
Cheers,
Julian