Down at the bottom of Mill Lane beside the Midford Brook there are sluice gates and a millpond, serving a group of buildings that comprise the last mill on this site, which was owned by the Freeman family, who also had mills at Freshford and Avoncliffe, equipped to manufacture flock. There is also a substantial house, much altered since the 16th century, but then described as being a "messuage" with pools, warrens, gardens and orchards. These no doubt contributed to the income of Humphrey Colles who received the land after the Dissolution of the Monasteries. In time, it became the mill-owner's house.
The Monkton Combe mill was by the station - notice 'Station Cottage' half way down Mill Lane - and in the early 1900s was well placed to import its rather insalubrious raw material, old clothes from the rag and bone trade and old uniforms from Holland, to turn into flock for use in the upholstery trade. Waterpower drove the turbine operating the heavy beaters which broke up the old clothes into fibres. These were then sterilised in ovens heated by a steam engine and the chimney of this engine is still standing. But by the end of World War II, "Dunlopillo" had replaced flock for mattresses and in 1951 the mill was up for sale. It remained empty for many years until it, and its surrounding weaving sheds were sold.
One other point about the station (while not wishing to stray too far towards a sidetracked cache) is that it doubled for Titfield station in The Titfield Thunderbolt. Note the two posts in front of the garage just below Station Cottage.
Also note that - despite what the map looks like - you can't carry on down Mill Lane to get round to rejoin the road South of the school. There is a big locked gate in the way.

The Little Bridges series was started by Stanthews in 2009 to highlight small footbridges in remote parts of Wiltshire. Since then the series has been expanded by others all over the country and starting to spread fast, Damian from Winter Foxes has created and updates a list of cachers who has found 10 or more little bridges and can be found here, if you would like to add to the series, please contact Stan on stanthews@aol.com and he will give you a number for your bridge, to qualify, the bridge must be a foot bridge too small for vehicles, please make sure your title exactly matches “Little Bridges # xx then name” including spaces so it will get picked up and added to Damian’s list.