Two masked men - armed with suspected handguns - threatened staff at an off license on the Woodstock Road at 8.30pm. They made off with a quantity of alcohol and a sum of money.
A short time later, it was reported to police that the robbers had been witnessed entering a house in the Ravenhill area.
Police sealed off Ravenhill Avenue while they conducted investigations. House to house enquiries also took place.
Nothing untoward was found, a police spokesperson said.
Ravenhill Avenue was reopened shortly after 11pm.
Anyone who witnessed the robbery or noticed any unusual activity in the area of Ravenhill Avenue or Rosebury Gardens are asked to contact police.