Developer DDL Estates’ debt nears $100m; collapse opens door to ‘below cost’ Ellerslie apartments

Reporter·NZ Herald·5 Sep, 2026 05:00 PM6 mins to read‌A 23-apartment development at Arthur St in Ellerslie collapsed in 2023. It has since been finished and put on sale at the instruction of lenders trying to recoup more than $90 million they lent to the project.Auckland apartments caught up in a dramatic property collapse are being sold at “a lot less than construction cost” as the developer’s debt nears $100 million. Fourteen apartments are on sale at 42 Arthur St in Ellerslie, part of a 23-unit block left unfinished by developer DDL Estates in a