Yes, the Grand Theatre was in Corporation Street, facing the Old Square. It was designed by the prominent Briningham architect W H Ward, and built at the time that Corporation Street was laid out, and opened on 14 November 1883, when it was known as the 'New Theatre'. Apart from the stalls it had two circles, a gallery and eight boxes, with a total of 2200 seats.
In 1907 it was bought by Moss Empires and remodelled (probably this was when it was renamed the Grand). It closed as a theatre in 1930 and continued life briefly as a cinema until May 1933, when it became the Grand Casino Ballroom, which apparently survived until 1960, but I don't remember seeing anyone actually going in or coming out.
Peter