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Nick Wilson and Melissa Meehan

'Perfect storm': builder collapses, buyers in lurch

Bathla Mick Tsikas New South Wales

Bathla Group cites a property market downturn and rising construction costs for its financial woes. (Dan Himbrechts/AAP PHOTOS)

Home buyers have been left in uncertainty after a debt-laden residential developer called in external administrators to keep the firm afloat.

Bathla Group cited a "perfect storm" including a property market downturn and rising construction costs in announcing on Tuesday it had called in insolvency specialists Teneo to restructure the business.

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