The station was opened by the Great Central Railway on 15 March 1899, built to the standard GCR arrangement of having an island platform set between the two main running lines. The platforms are long, capable of accommodating consists of up to 8 coaches and/or mail vans. The station buildings are unique on the preserved railway, the only station with a complete canopy, the longest in railway preservation. The station was closed by British Rail under the Beeching Axe, on 5 May 1969. Reopened by the Great Central Railway as part of the restored heritage railway in 1974, train services currently run south from the station to. Within the station complex, the station buildings, original GCR signal box sited to the north, and the three original water tanks are all Grade II listed.
Station masters
Walter Tate
P.B. Hand ca. 1929 - 1931
Henry Ernest Algar 1931 - 1937
A. Smith 1937 - ????
Station facilities
Original station facilities include: ladies' waiting room and powder room; general waiting room; gentlemen's toilets; and a refreshment room/cafe. In 2009, a £20,000 grant allowed the station to have new toilets, and a lift in the entrance hall to be installed for the benefits of the disabled visitors. The railway society have also added a book and gift shop, a museum, and an emporium/shop. All stations on the preserved Great Central Railway are set in a specific era; at Loughborough this era is the 1950s. Many artefacts around the station aid in this atmosphere, including original and recreated British Railways posters, British Railways totem poles, a 1950s TV showing 1950s transportation films in the general waiting room, and a display of 1950s platform trolleys and bicycles. The station also plays host to the command centre of the heritage railway operations, from which the Duty Traffic Manager organizes all movements which take place on the railway from the Station Master's Office.
Media
The station has appeared in many film and television programmes, chosen for its retro aesthetic, such as Enigma, Shadowlands and Cemetery Junction. The station and Great Central Railway line were also featured in the fourth episode of the 17th series of BBC's Top Gear programme, shown on 17 July 2011 during a train/car feature, which was filmed in June 2011.
Running shed
From a long fenced pathway alongside the northward line, the running shed can be viewed. This large 3-road building has to accommodate both residential and visiting motive power, as well as serving as a workshop. Unlike most other railways, it is possible to go inside and see "most" of the steam locomotives in various stages of completion. Only the third road is inaccessible to the general public. The current Loughborough Gap project will result in the shed being demolished, due to its position intercepting the line to Ruddington. The replacement is a 10-road from in Cumbria, which will be rebuilt brick-by-brick into an 8-road shed, which could have enough storage for 16 large tender engines. The brownfield site on which it will eventually be built, will include the shed itself, a second carriage works, storage sidings and an education centre for school groups.