HMO Market in Grimsby
If you are looking for HMOs for Sale in Grimsby you have come to the right place.
Grimsby, a historic town in North East Lincolnshire, has experienced significant growth particularly within the Houses in Multiple Occupation (HMOs) market. Traditionally, HMOs in Grimsby have catered to a diverse demographic, including students, professionals, and healthcare workers associated with local institutions.
Recent economic developments are only set to fuel the HMO market in Grimsby. Grimsby’s ongoing regeneration initiatives, aimed at revitalising the local economy and infrastructure, have attracted a new wave of professionals and workers to the area. The anticipated expansion of renewable energy projects in the region is expected to bring additional employment opportunities. Grimsby also boasts a University with a reported 17,000 students studying there in 2019/20. Grimsby also has a large hospital called the Diana Princess of Wales hospital with a reported 6,800 staff across the Trust. This is one of the largest employers in Grimsby.
Grimsby local authority are considering the implementation of an Article 4 Direction to regulate the proliferation of HMOs. This would require property owners to obtain planning permission before converting single-family homes into HMOs, aiming to maintain community cohesion and housing standards. A recent petition advocating for such regulations in Grimsby’s East Marsh area has garnered significant support from residents and councillors. The consultation is current still in place (early 2025) but is likely to be implemented shortly.
Grimsby is an up and coming City, attracting many visitors, students and professionals every year to this historic region. This is a good time for HMO investors to choose Grimsby due to it’s high rental demand for both students and professionals.
Are you looking to buy or sell an HMO in Grimsby? Enquire today and see how we can help.
HMO Deals in Grimsby
5 bed Professional Tenanted HMO
Off-market professional HMO, refurbished to a high standard, 5 bedrooms, 3 ensuites and 2 bathrooms, £31.8k rent, £160k purchase price
Grimsby HMO Deal Alerts
Grimsby HMO Market FAQs
Demand for HMOs in Grimsby is high. There are areas where demand is higher for professionals than students but students still make up around 30% of the market. From our research we can see that the average rent in Grimsby is between £525 per month per room. Double rooms outweigh single rooms by 9:1 so if you are looking to develop HMOs in Grimsby it’s important that they are double rooms. Ensuite rooms are also particularly popular making up 50% of the rooms in Grimsby – this is massively higher than the national average of 30% that we see typically across the country.
Student HMOs are up and coming but not as popular as professional HMOs in the area. Where there are student HMOs they tend to be clustered to the North of the University Campus towards Grimsby town centre.
The average size of HMOs in Grimsby is 5 beds. There are a lot of 4 beds and 6 beds that have been converted from houses that have large enough floor plates. There are also a few Sui Generis HMOs above 7 bedrooms.
We do not provide recommendations for HMO letting agencies in Grimsby, however there are dedicated HMO letting agencies there which is a good sign for out of town investors. At HMOsales.com we also provide HMO letting services for HMOs in Grimsby. Standard management fees we have seen from our research for HMO letting agents in Grimsby range from 7% to 15% per month.
At the time of writing, early 2025, there is a public consultation for the introduction of Article 4 legislation in Grimsby that will restrict the permitted development right of the conversion of C3 residential houses to C4 HMOs up to 6 bedrooms. As a result these HMO conversions will need planning permission and is much more likely they will be rejected as this policy will fall within Grimsby’s Local Plan. The consultation is in the early stages, however from experience in other cities, it is highly probable it will introduced. We expect article 4 restrictions on HMO developments to be introduced in Grimsby by the end of 2025.
Any HMO that is rented to five or more tenants is required to have an HMO licence in Grimsby.
Any HMO property rented to 4 tenants or less is not currently subject to an HMO licence. However Grimsby have introduced a Selective Licencing Scheme from March 2025 which requires all private rentals to obtain permission in the form of a licence from the Local Authority.
If you have a HMO rented to 6 or less tenants, then currently you are not required to obtain planning permission for that conversion as it is covered by permitted development rights. However, given the pending introduction of article 4 restrictions, these conversions to 6 beds will shortly be prohibited. Therefore once article 4 restrictions are introduced in Grimsby you will be required to obtain planning permission before you convert to a C4 HMO.
If you have a 7 bedroom and bigger house of multiple occupancy, then under National Directive, you are required to have planning permission as Sui Generis HMO.
