The revamped Cromford Station and Waiting Room received the highest accolade from the UK's Railway Heritage Committee at the National Railway Heritage Awards 2009 held in London's Merchant Taylor's Hall.

The listed station is one of the survivals of the old Midland Railway line to Manchester and is the only original station within the Derwent Valley Mills World Heritage Site.

Tim Collis and Ryan Phelps, joint owners, collected the award for their Waiting Room restoration project and Dr Christopher Charlton, former director of the Arkwright Society, collected the award for the Arkwright Society's Station Building restoration, both of which were carried out over the last two years.

Mr Collis said: "There were four other excellent contenders – one being the Arkwright Society's restored station building – which made us slightly nervous as in effect we were pitched against each other. In fact at that point when I saw the competition for the first time I thought that was the end of our nomination. Even then the penny didn't drop with me until they announced that the waiting room and the main station building were to be awarded their own first prize awards."

In 2005 the Arkwright Society launched a rescue operation designed to save the derelict 1874 grade II listed west platform building. Refurbishment is now complete and two office suites have also been created.

Dr Charlton said: "This is great news for the World Heritage Site. Two of its buildings at risk have been saved and found new uses and to achieve this, plus national recognition, is more than I would have dared to hope."

Secretary of State for Transport Lord Adonis presented the Railway Heritage Trust Conservation Award to both projects.

Architect for the station building, George Jones of Belper's Mansel Architects, building team manager, Peter Bowler, and Steering Group member, Robin Lumb, also attended the event.