Mix flour, salt, sugar, butter, yeast, milk, and 120ml of water in a bowl by hand.
Knead the dough on a lightly floured surface until smooth and pliable.
Place the dough back in the bowl, cover with cling film, and rest for one hour.
Incorporate sultanas, cherries, cinnamon, and orange zest into the dough using a mixer or hands.
Flatten the dough and roll it up into a sausage shape.
Place dough on a greased tray, cover with a plastic bag, and rise for one hour.
Preheat the oven to 220°C.
Bake for 25–30 minutes, then move to a wire rack to cool.
Mix icing sugar with enough water to create a thick paste that coats a spoon.
Drizzle icing over the loaf and serve in slices with butter.