Following extensive restoration at Port Erin Station in 1990, for which the railway was awarded a prestigious Ian Allen Heritage Award, funds were then allocated to similar works at Castletown Station, which at the time was in need of investment to ensure its longevity.  Accordingly after the last trains of the 1993 season work began on an extensive restoration of the main building which was to include a new roof, extension of which covered the flat-roofed former toilet block in sympathetic style, reopening of the waiting room including blocking up the original rear door and removal of the canopy which was not an original feature.

Plans were also drawn up to create a new doorway from the waiting room directly onto the platform which in the event were not carried out; other proposal included a much shallower glazed canopy, pergola-style shelter on the approach and creation of two apertures in replacement of the windows at the rear of the shelter.  The proposed elevation, some of which was not carried out, can be seen reproduced below.  The completed building was ceremonially opened on 23rd July by Phil Kermode, M.H.K., who unvieled a plaque in the waiting room to mark the event, which was heralded by an event day at the station.