Can it be done yes but it wouldn't be easy and would take time. I'm not a ps user however my wife is a graphics art director and lives in it every day.
To do something like this and remove a fence you need to copy a surrounding area and pixel by pixel remove it. The areas of the sky, lighthouse and grass would be the easy parts. The buildings would be the hard part.
I'm also looking at this from a do you want a nice photo or one that looks ps? Doing good work would take time.
Update. I sent this to the wife and it probably isn't possible....not without a ton of work.
The problem as I mentioned is the recreation of the building areas. She stated she would basically need to redo the entire building and there isn't much to grab from surrounding areas to do that with.
Someone out there may be able to spend the time to do it so I wouldn't say 100% no it can't be done I'm just telling you from the wife who does this for a living and has used ps for 12 yrs.
Rick I agree that this would be a ton of work to try and remove the fence with Photoshop.. You wouldn't be happy with the results either, I have been using Photoshop since 1994 and I wouldn't begin to attempt to try and remove the fence..