Only a lake (4)
I believe the answer is:
mere
I believe this is a double definition.
'only' is the first definition.
(I've seen this in another clue)
'a lake' is the second definition.
(mere is a kind of lake)
(Other definitions for mere that I've seen before include "Pond - pure and simple" , "Lake in Cumbria" , "Paltry" , "Small area of standing water" , "Lake (and nothing else?)" .)