A man has been charged after a late‑night fire tore through a photography studio causing extensive damage to the business and building.

Emergency crews were called to Chesser St in the Adelaide CBD just before 11pm on Wednesday after reports of a large blaze inside the studio.

WATCH ABOVE: Family CBD business destroyed by suspicious fire.

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Firefighters brought the blaze under control, but the building suffered extensive damage.

No injuries were reported.

Family run business Avalon City Imaging has been operating for over 20 years.

Avalon City Imaging has been destroyed by fire in the Adelaide CBD Credit: Daniel Williams

“It’s completely gutted,” owner Leah Markevicius told 7NEWS.

“There’s nothing left but a shell, and it’s all just black.”

7NEWS understands that the damage cost estimate is around $2 million.

Eastern District detectives arrested a 31‑year‑old man of no fixed address on Thursday afternoon following inquiries.

He has been charged with arson and has been refused bail.

He will appear before the Adelaide Magistrates Court on Friday.