A Sydney pub at the centre of a major COVID-19 outbreak in 2020 has set a national record for the sought-after asset class after selling to former Sydney Lord Mayor Nelson Meers for about $160 million.

The Crossroads Hotel in Casula, 34 kilometres south-west of the Sydney CBD, smashed the previous highest price paid for a pub – the $104 million acquisition of the Beach Hotel at Byron Bay in February 2020 by fund manager MA Financial (then called Moelis Australia).