Sportsgirl is among the enduring women’s clothing brands, with over 100 stores still operating, though it is now very popular with youth, especially tweens.
Sportsgirl owner Naomi Milgrom is poised for a significant windfall on one of her humblest property investments – a 1930s weatherboard cottage in a celebrity hotspot.
The modest two-bedroom home has been listed for auction on Valentine’s Day by agent Luke Elwin of First National Byron – and given how other homes in the area have surged, she could potentially double her money in the Byron Bay street. But it also has a massive ace up its sleeves.
Sussan Group chair/CEO Naomi Milgrom (left) – pictured here with model Ania Novak and former Sportsgirl executive Elle Roseb – is set to double her money on a cottage in Byron.
Naomi Milgrom is selling up a cottage in Byron Bay. Picture: Realestate.com.au
Naomi Milgrom is selling up a cottage in Byron Bay. Picture: Realestate.com.au
While the home has original features, it’s major trump card is that it sits within Byron Bay’s 365-day unrestricted holiday letting zone – a coveted status that became dramatically more valuable after Byron Shire Council introduced a 60-day cap on unhosted short-term rentals in September 2024. Only a few places like parts of Byron Bay town and Brunswick Heads are allowed all year round STRs now.
The billionaire fashion boss had paid $1.35 million for the home in 2018 and no property on the street has sold for less than $2.27 million since she bought into the area. The highest was $4.8 million in September.
Her “cheap” buy could be one of her smartest plays in a portfolio that includes three other Byron properties bought for more than $17 million near the iconic lighthouse.
The 392 sqm cottage block sits at the smaller end of the street’s offerings, but valuation expectations go as high as $2.79 million for the home.
It was built in the 1930s so would need council approval for any demolition or changes. Picture: Realestate.com.au
Naomi Milgrom’s cottage is a short stroll from the centre of town.
Her property is a stone’s throw from the Byron Farmers markets.
Properties like hers with unrestricted rights are now among the rarest in Byron Bay, effectively creating a two-tier market for holiday rental permissions – which may trigger strong interest.
Ms Milgrom has been renting it out significantly lower than rents in the area, with RPData rental estimates going as high as $1.1k a week for the house – about $300 less a week than she charges.
If it went on the short-term holiday market, that income could more than double if it was only rented out every weekend – given the cheapest price on Booking/com for a private house is $1,000 a night at present.
Byron’s property values have gone backwards by 5 per cent in the past year, with the median house price now at $1.992 million in the final quarter of 2025.
The home is very modest compared to the billionaire’s lifestyle. Picture: Realestate.com.au
Naomi Milgrom was renting the property out at $800 a week. Picture: Realestate.com.au
Agent Luke Elwin described the property as “a rare opportunity in one of the town’s most tightly held and walkable pockets” – one street away from the renowned Byron Farmers Market, and a short stroll to the centre of town and its lifestyle amenities.
“While the home would benefit from a renovation or a rebuild, it currently presents as a cute and increasingly rare original Byron home with enormous scope to enhance or build your beachside dream (STCA).”
Council rates sit at $4,871.44 a year and it is a 45 minute drive from Gold Coast airport.
Ms Milgrom also owns a 124-year-old Italianate mansion in Melbourne’s Middle Park, a $44 million Cremorne office building, an additional $95 million neighbouring Cremorne property and several Bondi Beach apartments.
The property goes to auction on-site at 12pm on February 14, 2026.
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