Woolworths Supermarkets is mulling on spinning off its property portfolio, Reuters reports. The plan comes as the company is adding supermarkets and promising 100 new Masters home improvement centers in the next five years.

The worth of the property trust, with a book value of $8.9 billion, has not been disclosed. Australia’s biggest supermarket chain, which is undergoing a thorough strategic review, is likely to buy 150 sites and open 100 new Masters home improvement stores in the next five years. It may also open 39 new supermarkets this financial year.

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