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Hi,

I have been developing such a system for 3 years, as I have worked at
diffrent advertising agencies. You can see it at www.hotproject.com

I offer it for sale as managed service, or it can be downloaded and
installed locally.

The system has the following featuress:
- Large file upload / download (up to 40mb)
- Creation of sub folders
- Project and folder based permissions
- Version control
- Search
- Role based administration. (Admin, Project Manager, Client, Designer,
Contractor etc.)
- PHP/MySQL based

If it matches your requirements, get in touch and maybe we can work out
a deal for a 'local install'