Prepare strawberry compote by combining all ingredients in a medium saucepan. Stir well, then bring mixture to a boil. Using a potato masher, mash strawberries lightly to break up a bit (but not completely). Allow to boil for 3 to 4 minutes, then pour in to a bowl. Allow to cool a bit at room temperature, then cover and refrigerate to cool completely.
Prepare streusel by combining all ingredients in a small bowl and, using a fork, mix until mixture forms large crumbs. Cover and place bowl in to freezer, until needed.
For the bread, combine the yeast with the lukewarm water and milk and let stand 5 minutes. In a large bowl or the bowl of your stand mixer fitted with the kneading hook, combine flour, salt and sugar. Add yeast mixture and melted butter. Mix until dough comes together, then knead until smooth (you may need to add a bit more flour or liquid). Remove dough to a greased bowl. Cover and allow to rise at room temperature until doubled, about 1 hour.
Remove dough to a floured surface and roll in to a rectangle roughly 16 inches long by 10 inches wide. Spread your (cooled) strawberry compote over the surface, leaving a 1 1/2-inch margin around all sides uncovered. Starting with the long side, begin to roll dough by folding over the edge, then gently lifting up and then dropping the dough forward (rather than rolling). Pinch the open ends together as you go to avoid filling coming out the ends. As you near the end, rather than rolling the turn, pull the bare edge up towards you and pinch the dough together along the length. Rotate your dough so the seam is down.
(*Note: At this point, you could cut the roll in half, in to two pieces and rise/bake in two small loaf pans, if you like).
Grease an 8-inch skillet. Lift the rolled dough in to the skillet and form in to a ring. Overlap the ends slightly. Cover with a greased piece of plastic wrap and allow to rise until doubled, about 30-45 minutes.
Preheat oven to 350° F. Using a sharp knife, cut a series of slashes in to the dough every couple of inches, as if you were cutting it in to wedges, but only cut through the first couple of layers (dough may want to mend back together, so be sure to stretch it open as you cut to avoid this.) Remove streusel from freezer and using your hands, break up the streusel into small clumps and sprinkle over the bread.
Bake in the preheated oven for about 30-35 minutes, or until golden and sounds hollow when tapped. Allow to cool in the skillet. Serve dusted with a little icing/confectioners sugar, if desired.