The Waterfall is the large imposing building opposite Derby Railway Station entrance. The building was the former Midland Railway Institute building built in 1892 and this is shown in the façade on the road side of the building. The main bar is a large L-shaped space with raised areas to each side. The large wooden based bar sits at the opposite corner to the entrance. There is an American Pool Lounge in an adjacent room with five tables. This also includes some lounge style seating and table football. In a further adjacent room is a function room with its own central bar. There are also two function rooms available for hire upstairs. There is a small outside area on the pedestrian area in front of the pub.