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Yeah, it's possible although seems unlikely in the foreseeable future (at least the grand kids bit does, anyway). It's possible the elder one may decide to stay in Leeds next summer rather than coming home to live with us for the whole summer.
There is also the theory that if we have less space, hanging out at our place becomes less attractive so there is an element of self fulfilling prophecy in having a large house which has lots of people in it.
ChasnotRobert-
My parents did this, one does not follow the other, most of the time it's just the two of them knocking about in a huge house, rare that there's a big enough event to justify many people travelling from all corners of the country.
We need more bedrooms but not necessarily more space, therefore kitchen/ receptions usually feel a bit pokey in anything we've looked at.
Polygon
What are the likelihoods that your teenagers may at some point have kids and not live near you?