It was located in Commercial Road and later formed part of the bus station.

[1] The total cost of rebuilding the station in its later location was about £6,000 (equivalent to £844,200 in 2023),[2] of which £2,000 was contributed by the L&B.

Opened on 16 May 1898 to serve as the connection to the Lynton and Barnstaple Railway (L&B), a narrow gauge line that ran through Exmoor from Barnstaple to Lynton and Lynmouth in North Devon, a distance by rail of almost 20 miles.

During the 1980s and early 1990s the old LSWR signal box was operated as a small museum for the L&B and the station building was in use as a restaurant.

In late 2015 a charity named Combe Rail was formed with the intention of establishing a heritage railway on the trackbed of the Ilfracombe-Barnstaple line as well as lobbying for a full reopening in the future.