The Bridge, in Station Road, Langley Green, was partly demolished in 2013 after standing empty for more than two years.
Now only its frontage remains but is covered in graffiti and overgrown trees.
It comes amidst calls for it to be pulled down last year.
It was part demolished in 2013, after it had stood empty for more than two years and was previously 'ransacked' by vandals.
Plans to build nine apartments and two houses were given the green light by council bosses in 2015.
Ward councillor Yvonne Davies said the building has been a 'terrible blight for a long time' and was pleased it had been sold.
She said: "It's been a terrible blight for a long time so the sooner it's developed the better.
"The whole area needs revamping but if the land has been sold and it's being developed then that's a good thing.
"I welcome the redevelopment in that part of my area - the sooner it's developed the better because it's a magnet for problems including fly-tipping."
The land was put up for sale at £255,000.
Terry Daniels, chairman of the Langley History Society, said: “Many factory workers used to go there, even comedian Frank Skinner I think when he worked in Langley.
"It is sad as there is virtually nothing left of it and the only reason it is still up is probably to stop people falling into the canal.”
The pub sits close to the Grade II Langley Maltings which date back to 1870, but have been standing empty for 10 years.
It still sits in a state of disrepair after an arson attack destroyed its roof and towers in 2009.
An application for demolition was submitted in 2012, but the council rejected the plans after an outcry.
The Maltings date back to 1870, but were substantially rebuilt in 1898. Until 2006 they were still in operation.