Ambulance crews tried to save the victim, in his 50s, who has been named as Glen was pronounced dead at the scene at around 1:40am.
A 59-year-old suspect was taken into custody.
A property reminds under lockdown after one neighbour describe the incident as a frenzied attack involving a knife the two men are said to be know to each other and often went out drinking.
The paramedics that came out after treating the man looked very shook up said the neighbour who asked not to be named. It’s bit closed to home.
Police say they do not believe anyone else was involved and there is no risk to the wider public.
Anyone with any information is asked to contact 101, quoting incident reference PR/P20005328.