Building materials manufacturer Brickworks has cashed on the boom in industrial land values after selling a half-stake in a portfolio of 15 manufacturing sites to logistics giant Goodman Group for $207 million in a partial sale-and-leaseback deal.

The sale of a 49.9 per cent stake to Goodman was struck on initial yield of about a 4.3 per cent. It values the portfolio, which will be held in the Brickworks Manufacturing Trust, at $416 million. Brickworks will hold the remaining 50.1 per cent share of the trust.