The discovery was made by a passer-by at the Esplanade near Maidstone Street just before 9:00am.
Police said her death would be investigated by local detectives after the results of a post mortem indicated it was not suspicious.
The woman is yet to be identified but police believe she is possibly aged in her 70s.
Detectives are appealing for anyone who saw an elderly woman in the area this morning to come forward.
They are also asking people to check on any family or friends from the local area who are approximately the same age.
Earlier, Detective Senior Sergeant Stephen McInty said police did not know how long the body had been there, but presumed it was only overnight.
“There’s a fair amount of pedestrian traffic on this street most days and we would assume that if she had have been there yesterday, she would have been seen,” he said.
“It would appear that the woman has been burnt in this location.”
Anyone with information is urged to contact Crime Stoppers.