Hi Brian
Even at this late stage you should consider setting up a pension. You can get tax relief on 30% of your salary, so if you have income which is taxable at 42%, then it's worth doing.
I don't think I would trade down to release €100k in equity. Have you factored in all the costs? Stamp duty on the new home, moving costs, legal costs, redecoration? Unless you can trade down to one of your investment properties?
I don't like the sound of your property strategy at all. I am not sure of the numbers, but how big is the mortgage as a percentage of the property value. It seems quite high if the property is just washing its face. A person close to retirement should not borrow to invest in anything. If the value crashes or if the rental income declines, you will be in serious financial trouble.
Let's assume your properties are worth €1.2m and you have €600k in borrowings. You are worth €600k. If property values fall by 30%, you will lose €360k, so your net worth will be reduced to €240k. I would sell sufficient properties to pay off all borrowings. You will then be left with one or two properties worth €600k and no borrowings.
You should probably consider diversifying half of your €600k into equities. ( Personally, I would put it all in equities, but I know there is little point in trying to convert a property investor).
Brendan