Warspite's reconstruction nearly matched her build cost

How expensive was Warspite's 1930s modernization?

About £2.363 million, almost the £2.524 million cost of building her.

The figures show that reconstruction was a major industrial investment rather than a light refit. Warspite's 1930s reconstruction cost roughly £2.363 million, while her original construction had cost about £2.524 million. The value of money changed between those expenditures. Even so, replacing machinery, protection, fire control and superstructure could approach the cost of creating the ship in the first place.