Construction on the bridge started in 1886 and took eight years to complete. Two massive piers, containing over 70,000 tons of concrete, were sunk into the riverbed to support the construction. Over 11,000 tons of steel provided the framework for the towers and walkways. This was then clad in Cornish granite and Portland stone, both to protect the underlying steelwork and to give the bridge a pleasing appearance. The bridge was officially opened on 30 June 1894 by The Prince of Wales (the future King Edward VII), and his wife, The Princess of Wales (Alexandra of Denmark).

The bridge connected Iron Gate, on the north bank of the river, with Horsleydown Lane, on the south – now known as Tower Bridge Approach and Tower Bridge Road, respectively. Until the bridge was opened, the Tower Subway – 400 m to the west – was the shortest way to cross the river from Tower Hill to Tooley Street in Southwark. Opened in 1870, Tower Subway was the world’s first underground (‘tube’) railway, but closed after just three months and was re-opened as a pedestrian foot tunnel. Once Tower Bridge was open, the majority of foot traffic transferred to using the bridge, there being no toll to pay to use it. Having lost most of its income, the tunnel was closed in 1898. Tower Bridge is one of five London bridges now owned and maintained by the Bridge House Estates, a charitable trust overseen by the City of London Corporation. It is the only one of the Trust’s bridges not to connect the City of London to the Southwark bank, the northern landfall being in Tower Hamlets.