I understand this is an old game - but the models are highly sought after by myself and the community.
Shenmue 1 & 2 appears to use a lot of mt5 files which some people have tried to create tools for - with limited success. At this point, it's probably best looking at Shenmue 1, as Shenmue 2's files are even more so less understood than S1's MT5s.
This tool works for some files but not for all and the developer has stated that the file format is too hard for him to crack as not all MT5 files are the same.
https://github.com/yazgoo/mt5_extraction_tools
Here's an archive containing a few MT5 files. Some of these have entire maps:-
https://mega.nz/#!1kdU0aIR!8T3RA0eoIQ5j ... 3U79lFqllU