Edwards Bridge in South Warrnambool - which dates back to 1894 - has reached the end of its life span and work to remove it began on Monday.

It will be replaced with a $4.6 million structure which has been funded with the help of a $2 million grant from the federal government's bridges renewal program.

The city council's chief executive officer Peter Schneider said closing the one of the two major roads to the foreshore precinct for such a long period of time was never going to be ideal.

"But the bridge has to be replaced, and the bridge and playspace projects have been scheduled to avoid the peak summer activity," Mr Schneider said.

"After undertaking work in recent years to keep the bridge operational in the immediate term, it's fantastic that the much-needed work on a full replacement of the 19th century structure is about to begin.

"We've been in regular contact with nearby residents and businesses as well as emergency services and transport companies. They are all aware of the bridge's upcoming closure and have planned accordingly."

The new bridge will be able to carry heavy vehicles and will have dedicated bike lanes and footpaths on both sides.

It was expected to last well into the next century.

The cost of the "urgent" works to the bridge blew out by up to $1.6 million it was revealed in September.

But fears that the bridge could collapse was one of the reasons cited by councillors who backed the increased spend on the long-awaited project.

The bridge was named Edwards Bridge in a nod to a Warrnambool family linked to a number of sea rescues including one of a two-year-old that had fallen off the breakwater pier.

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