Submitted by John Frank Lane, the application also includes a car park accessed through the modified existing entrance off the roadway serving the Waterville Estate to the south.
The 0.25 acre brownfield site, had a guide price of €270,000 and was sold by Behan Irwin & Gosling.
Directly adjacent to The Lough and to the Church of the Immaculate Conception, the site which was formerly the Lough Tavern was a popular meeting point for Cork City fans ahead of big games at Turners Cross, before it was closed in 2007.
Following the closure, planning application was lodged to construct six terraced houses ranging two and three stories high.
In February 2010 however, the former pub went on fire and was demolished a month later.
It has remained undeveloped since then.