One ambulance and five police cars have been pictured at the scene.
Armed officers in protective gear and riot shields are now in a stand-off with the knifeman who is reported to be holed up in a property near the school.
The surrounding area has been cordoned off by police and a police drone has been seen flying over the area.
Devon and Cornwall Police have confirmed armed units were called to the area.
A spokesman said: “Police were called at around 2.40pm today to reports of a man causing a disturbance at a property.
“The man is believed to be in possession of a knife. Firearms and local units are at the scene.
“Containment of the property and road are in place.”
More to follow…