The station is located on the southern side of the island's capital, Douglas, and is at the far landward end of the North quay close to the old town and finance centre.

It has car parking available for railway patrons on the site of the former goods yard and departure platforms and is served by nearby bus services from many locations on the island.

The original station building was a 70' by 30' wooden structure with a zinc tiled roof located approximately where the present booking hall now stands.

In 1875 a three road iron carriage shed was provided about where the Bus Vannin parking area is today, and between this and the running lines a rudimentary ground frame was constructed to control trains entering and leaving the station.

This building was designed in 1888, but not constructed until 1891/2, following the abandonment of plans for a steam railway from Douglas, via Quarter Bridge to Onchan and Laxey.

In 2011, a major restoration scheme to underpin the north end of the building repair the roof, and possibly rebuild the old canopy over the circulating area was announced.

The resultant current layout is largely given over to catering with the former booking hall being a gift shop with open service desk rather than traditional ticket hatch, a replica of this remains in the wall as a reminder of happier times.

The 'box features a set of characteristic wooden external steps that must be climbed to access the levers, with storage space beneath the timber-built top section, this would have housed all the linkage and control gear.

From there the signalman on duty could command a view of the entire yard, controlling every traffic movement from passenger trains to complex shunting procedures.

The one thing the signalman did not control was the staff and ticket single line safe-working, which in accordance with earlier practice remained the responsibility of the stationmaster.

These points were then controlled with hand levers and the signals were placed permanently in the 'off' position so that trains could arrive and depart without the box being staffed, saving the associated wage costs.

During these events the box is tended to and staffed by members of the Isle of Man Steam Railway Supporters' Association a local voluntary organisation.

At the entrance to the platform there is a shall wooden chalet structure which is used by station staff when checking tickets, it also houses various signage and cleaning equipment.

In 1909 iron canopies were erected covering the circulating area west of the main station building and both platforms for the majority of their length.

The platforms are currently unnumbered, but in former times the northern face was number 1 and 3, and the southern 2 and 4 to assist passengers and porters in finding the Peel and Ramsey portions of combined trains to and from these destinations.

This replaced the 1893 original which was demolished to make way for the Bankc Circus development and bus depot adjacent, this held all seventy-five bogie carriages and stood to the rear of the signal box.

The buildings to the rear of the locomotive sheds house the carpenters'/jointers' shop and paint shop where all the in-house painting and signwriting was carried out by the railway's own staff as well as rebuild and maintenance of rolling stock, a purpose it still serves today though largely used by sub-contractors; it is separated into three individual areas, the latter of which also has external doors to access the new carriage shed.

The side of the water tank base originally carried a large bracket signal governing entry into the station, but this was damaged and then removed c.1981.

What once formed a gap between the sheds (referred to as "the courtyard") was covered over in 1999 to provide further secure accommodation for rolling stock and this has been constructed from corrugated metal and is used to house some of the railway's redundant items of rolling stock including one of two Empress Vans and frames off out of use locomotives, it also provides covered rail access to the carpenters' and paint shops to the rear.

Road 7 was used to store spare carriages to strengthen Port Erin line trains, whilst 8 to 11 formed the station's goods department.

The revised layout was re-signalled in 1983 with movements within the station being protected by a colour light home signal located approximately halfway between the new carriage shed and Nunnery bridge.

The familiar landmark of the grounded carriage body in front of the works, which acted as a bothy and an oil store was removed in 1999, but returned in July 2013 and has since been partly restored and painted into Manx Northern Railway livery as No.2 (later renumbered F41, then N41 by the IMR).

In recent times the north quay the adjoins the site has been partially pedestrianised and now has a number of restaurants and public houses as well as a selection of shops and boutiques.

The large red brick office block that sits behind the station was erected in 1988 on the site of the former Clinch's Brewery, the tower of which was retained in the new development.

The site is in the central part of the island's capital close to the financial district making it ideally suited for the commuter train services which since 2007 have been provided annually during the T.T.

Its location at the end of the inner harbour was ideal in the past when the railway carried cargo directly from ships that berthed nearby.

In the past the railway boasted its own tea rooms and bar, located in the ground floor of the administrative block which stands next to the station building itself.

The company that runs the facility also operates a similar restaurant and grill in the upper part of the town known as The Mailbox which is located in the former premises of the Isle of Man Post Office.

The entire area has redeveloped in more recent times, and the "Banks Circus" headquarters were established here in 1999 providing the island's central bus garage and yard.

Railway and passenger facilities would be further reduced with the published plans showing only a small office being retained within the station building for the sale of tickets.