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MAPLE tree-lined boulevard across the road from the river?
Or palm tree-lined boulevard over the road from the bay?
That may have been the decision Victoria's richest woman, Naomi Milgrom, had to make recently, if news she is moving from Toorak are true.
The Sussan Group chief executive, worth an estimated $555 million, is believed to be the mystery buyer forking out some $12.5 million for the prominent Danish Club in Middle Park.
Speculation the 2000 sq m property at 177 Beaconsfield Parade was sold to an influential but private Melbourne family who plans to restore it into a huge home, first surfaced in March after a committee member let slip the 119-year-old club would leave Middle Park by the end of the year.
Names linked, but eventually ruled out, as buyers of the site include former television personality Steve Vizard and members of the Myer family.
Ms Milgrom is the eldest daughter of billionaire shopping centre owner Marc Besen.
The Danish Club includes a federation double-storey mansion being fitted out as function rooms and a bar. It also includes an established garden, and a large tract of land being used as a car park accessed via Ashworth Street.
When restored as a private residence, agents speculate the property could have an end value of well over $20 million and be the most expensive in the area.
Sources say Ms Milgrom is unlikely to sell her existing Heyington Place mansion in Toorak, which is speculated to be valued at more than $10 million, but instead give this properrty to one of her four children.
Alexander Robertson director David Combes, acting for the Danish Club, and Kay & Burton director Ross Savas, acting for the buyer, declined to comment. A Sussan Group spokesman for Ms Milgrom said the company did not comment on the personal dealings of its directors.
Transfer of titles for the Danish Club, expected to disclose the buyer's identity, should occur later this month, sources say.
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