The siding is occasionally used by the permanent way engineers but was the site of the junction that led towards Kenilworth and then Leamington Spa. The trackbed still survives mostly as a footpath.
On the left, beyond the bridge parapet, was the original location of the up platform. It was beyond the level crossing that has now become an underpass- Hence the bridge parapet.
Follow this link for an excellent image from the 60's...
http://evergreen.zenfolio.com/p130244149#h2739e50f