McCarthy & Stone, the UK's biggest retirement home builder, said it has secured a new £200 million bank credit facility as part of its plans to build and sell more than 3,000 units a year over the medium term.

The Bournemouth-based group said last month its pre-tax profits leapt five-fold to £63.2 million in the year to the end of August as it benefited from the recovery in the housing market.