Woolworths doesn't own the property for the majority of their...

Woolworths doesn't own the property for the majority of their stores.

When I last checked, Woolworths Limited would buy land and develop a supermarket or shopping centre with their stores in it, set a contract between itself and their new supermarket/stores, then sell the property, which the new owner will pick up the contract that Woolworths Limited had already established for their new supermarket/store.

This frees up Woolworth's capital and allows them to focus on their specialty, which is retail, not property.