Maple tree-lined boulevard opposite the river?
Or a parade with palms, across the road from the bay?
That is a decision Victoria’s richest woman, Naomi Milgrom, may have made recently – and it was the beach which won.
The Sussan Group chief executive and philanthropist is speculated to be the mystery buyer spending $12.5m on Middle Park’s historic Danish Club.
Speculation the 2000 sqm Beaconsfield Parade site sold to an influential local family surfaced in March when a committee member let slip it would vacate by the end of the year.
Buyers since ruled out include television personality Steve Vizard and the Myer family.
Ms Milgrom is the eldest daughter of shopping centre owner Marc Besen – both respected business identities.
The Danish Club
The Danish Club, or Hughenden, a double-storey Federation/Italianate, constructed about 119 years ago.
It is presently fit out with function rooms and bar.
The back of the block, facing a laneway, was a car park.
Sources have speculated an effective rebuild, maintaining the facade, could cost more than $20m.
Ms Milgrom will relocate from Heyington Place, Toorak.
Alexander Robertson director David Combes acted for the Danish Club.
Kay & Burton’s Ross Savas represented the buyer.
Title transfer, expected to disclose the new owner, should occur later this month.