Shayne Hodge Interview - Part 1 Waltus-Urbus Journey

Shayne's Early Career in Residential Real Estate 

Shayne discusses how he initially got involved in residential real estate sales in Perth, Australia.  He started door-knocking and offering free appraisals, eventually securing his first listing. He then transitioned into commercial real estate with his family's background, joining a small Italian real estate agency called Conti Sheffield, where he handled leasing, sales, and general transactions. 

Joining the Family Business: Waltus 

Shayne explains how his father, John Hodge, co-founded Waltus in 1986 with his uncle and others, syndicating Sydney industrial properties to New Zealand investors. Shayne saw an opportunity to join and expand the business, which had a small client base at the time. He discusses Waltus' first purchase in New Zealand, a Woolworths supermarket in Taupō, and their strategy of lowering the minimum investment to $5,000 to attract a wider audience. 

Waltus' Growth and Eventual Sale 

Shayne describes Waltus' growth, reaching $750-$800 million in funds under management. However, the syndication model became flawed due to liquidity issues and the need for property refurbishments. Waltus merged its syndicates into a company called Urbus, which was eventually listed on the NZX. Shayne details the process of selling Waltus' management contract to ING (now Argosy) after an initial failed attempt, resulting in a higher sale price. 

You're listening to an interview by Kevin Dee