When I ran an 18x10 ET40 rear I BARELY had clearance to the fender. I think with a 10.5 wheel rolling the fenders would not be enough. Only thing I can think of that may work, would be to go to a coilover and run less spacer to get the wheel further inside, but you may run into other suspension bits then.
At the end of the day, I don't think it's going to be worth it to try to make this work. For the record, I run 18x10 ET45 with 265/35-18 and it is perfect.
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Boxster S
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