The victim was found by a member of the public in Vauxhall Street just before 19:30 last night.
Paramedics and police officers treated the man at the scene but he later died in hospital.
Shortly afterwards armed officers arrested a 51-year-old man. He’s still in custody and the police say they don’t believe anyone else was involved in the incident.
The road was closed off until early this morning, and a team of 12 detectives led by Detective Chief Inspector Alison Fosey are currently working on the case. Police say they’ve found what they believe might be a weapon.
Several lines of enquiry are being pursued today including interviewing potential witnesses, house to house enquiries, and CCTV analysis.
Anyone with information is asked to contact Police Headquarters on 612612 or using the confidential Crimestoppers line on 0800 555 111.