Former employers scheme being wound up

My former employers pension trustees have written to me to explain that the pension scheme was wound up last month. They want to know what I want to do with about 100k I have between ordinary and AVC funds. There are 4 options:
1) Transfer to a Personal Retirement Bond they recommend - not too keen on that
2) Transfer to my current employers fund - not too keen on that either
3) Invest in a Personal Retirement bond or PRSA of my choosing or
4) If I am 50 (which I'm not!) take the benefits.

What I would like to do ideally is to invest in property and leverage the funds. Is this possible via a PRSA and if so how can I get them to support this?

Any advice appreciated.

Roy

Thanks Olly for the response.

"by the sounds of things you don't have an executive/self directed pension plan (or have one avaialbe to you)" - that's correct.

"If you were a director or self emplyed such an option would be more easily availabe to you" - as luck would have it I set up a company a year or so ago and while it has generated decent profits this would not at this stage be my major source of income. Sounds like this might be an avenue to explore.

"I'm not going to comment on the wiseness or otherwise of investing your pension plan 100% in property as I'm sure you've thought this through and you have not asked for advice on this." - thanks I do appreciate the risks involved.

Roy