"The origin of the name Ann Street is rather obscure. It suits the position of Catharine Street, in which the first Linen Hall was built in 1739; but that Linen Hall was referred to in 1754 as in Ann Street, and it certainly was so. If the streets be identical, the name has been changed in the interval between 1739 and 1754 (George Benn, A History of the Town of Belfast, vol. i, 1877, p. 529).
N.B. It seems that this is due to a confusion rather than a renaming of the street. In the 18th century Catherine Street was an alternative name for Caddell's Entry, a side-street on the north side of High Street, probably because Catherine Caddell held a lease for premises there.
Marshall has a great deal to say about the development of the street but, as regards the origin of the name, only the following: "In Belfast's early days, Ann Street was known as Back Street, because High Street was the Front Street. Later, a part at least of the present Ann Street was known as St Anne's Street, as shown by a lease quoted by S Shannon Millin [Sidelights on Belfast History], dated September 6, 1727 — 'Passage of six feet wide leading from High Street to St Anne's Street'" (John J. Marshall, Belfast Telegraph, 30/12/1940). However, given that there are earlier references which call it Anne Street or Ann Lean, we should not attach too much importance to this single reference. It cannot relate to St Anne's Church as it was not built until the 1770s.
Ann Street existed at least as early as 1685 when it was marked on Phillips' map, but unnamed. It was first recorded as Anne Street in 1712. At this time Belfast was administered by trustees for the 4th Earl of Donegall, who was still a minor. Mary Lowry in her book states vaguely that "five ladies of the Donegall family give the name of Anne to a great many places" but without stating who exactly she means and which places, but Ann Street was probably intended (Lowry, The Story of Belfast and Its Surroundings, 1913). This seems unlikely as only the first three Earls of Donegall fit the timeframe and none of them married an Anne. The 1st and 3rd Earl did have daughters named Anne, but it is hard to see why either would be picked out above their siblings and other family members for this honour. Assuming that this is a commemorative name, as opposed to referring to someone who lived in the street, the most likely explanation is that it was named after Queen Anne during her reign (1702-14), and that the spelling was altered subsequently.
This sits much better with what we know of such names in Belfast. It was during the 18th century that a trend for naming streets after royalty and nobility spread from Paris to various other capitals and cities in Europe (Nicolaisen, Scottish Place-Names: their study and significance, 2001, p. 64). The only other examples in Belfast which are as early as this are the names coined by Isaac Macartney for his private development (c. 1715) of Brunswick Square, mostly named after royalty: George Quay, Hanover Quay, Marlborough Street, and Prince Street. A street named after Queen Anne would fit into the same pattern.
It is included in the list of streets in the Belfast Directory 1831-1832.
According to the Irish Historic Towns Atlas, vol. xii, Belfast’s first Linen Hall was built in Cooney's Court, part of Ann Street, and opened in 1739. The artillery barracks built in 1737 were also in Ann Street. It was from these barracks that the heavy guns used by the troops at the Battle of Ballynahinch (1798) were supplied. It is thought that the eight small ships’ cannons used by the United Irishmen were brought after they had been defeated.
Ann Street also had the first regular theatre in Belfast. From newspaper adverts there would seem to have been a “modest” playhouse in the street called “The Vaults”. It was used until a new theatre was built in Rosemary Lane (now Street) in 1784 (John J Marshall, Belfast Telegraph, 30/12/1940).