F3 follow-ons and the value of continuous battleship construction

How fast might an F3-style follow-on to Nelson be, and how would continued construction affect the Royal Navy by 1939?

The follow-on would likely make about 28 knots, while steady construction would produce a much newer battle fleet and preserve the yards and skills needed for rapid wartime expansion.

An F3-derived ship would make roughly 28 knots, and several fast heavy units would make refits easier to stagger. More importantly, a steady two-ship cycle would prevent the shipbuilding infrastructure and workforce from atrophying during the naval holiday. By 1939 the Royal Navy would therefore face Germany with a younger fleet and a production system already in motion.