Although Osborne is common as a surname, this group of street-names between Lisburn Road and Malone Road (Osborne Park / Drive / Gardens / Place) is perhaps most likely to be ultimately derived from Osborne House, beloved home of Queen Victoria and Prince Albert on the Isle of Wight. The earliest use of the name in this neighbourhood of Belfast appears to have been for the Osborne Brick & Tile Works run by McLaughlin & Harvey, listed in the BPU Directory of 1868. By 1877 Osborne Terrace and Osborne Cottage were listed as residences on Lisburn Road. In the same year Osborne House and Osborne Villas were listed on Osborne Park, which is the earliest of the streets (BPU, 1877), whilst Osborne Gardens was named in 1905, shortly after Queen Victoria's death in 1901.
Located in East Cowes on the Isle of Wight, Osborne was built between 1845 and 1851 as a summer home and rural retreat. It was designed by Prince Albert in the style of an Italian renaissance palazzo. It is now open to visitors and is no longer a royal residence.
The use and re-use of such a name with royal associations fits into a pattern which is noticeable in this area of South Belfast, other examples being Windsor, Adelaide, Kensington, Chelsea, Marlborough, Sandringham, Balmoral, and Braemar.