Thank you all for your suggestions. I opted for the safer way of increasing the mileage. Through the winter I managed to run 35-40 miles per week by consistenly running no less than 5-6 times per week. In the last month or so I got some tempo runs by running a few races at around 6 minute mile pace. And it payed off as I just ran 16:56 5k on the track so I am getting there ... I plan on increasing my mileage to 50 mpw and go for sub 35minute 10k in a few months.