Reports of the possible deactivatedÂ ordnance were made around 5pm yesterday evening.
The Royal Navy are coordinating the operationÂ withÂ Solent Coastguard and are said to be attending the site later this afternoon.
'˜We are working with the Royal Navy after a suspected ordnance was found off the shore off Lee-on-the-Solent,' a spokesperson for Solent Coastguard said. '˜The navy have said they will be heading to theÂ location at some point todayÂ but have not given us a time yet.'
Residents have given their reaction toÂ the incident. Robert Merritt, 69, said:Â '˜I haven't seen or heard anything but it'sÂ a bit strange really. I come down here most days and haven't seen anything like this before.
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'˜There was some dredging that was taking place the other day but nothing else. I'm not really worriedÂ about it.'
John Kesrouany, 78, said: '˜I've been coming here 50 years and have never seen or heard of anything like this before. It does not concern me.'
Gavin Sullivan, of Solent Cycles said: '˜They do sometimesÂ deactivate bombs in the Solent so it would not be a great surprise.'
Others reportedÂ hearingÂ there may be a deactivated bomb but said they were not overly concerned.
The beach and surrounding areas were busy with no visible cordon at the time of publication.