Wouldn't the fastest and cheapest thing to do is strip the strike vls, artisan radar, and super sonar.
I doubt you'll be removing Artisan, It's too important of a component to do away with (Note, there are smaller variants of it). As for removing the strike cells and sonar, that leaves lots of wasted space on a hull which has already been deemed too expensive to build in the numbers required.
IMO there's a few ways to look at them.
A: Forgo the 'light' descriptor and buy Absalons to redeem some of the lost amphibious capability when Ocean goes (QE and PoW shouldn't
have to run as Commando carriers).
B: Get involved with the French La Fayette replacement program
C: Give BAE MORE money to prop up its shipbuilding capability and buy something at inflated cost such as a follow-on Lekiu or Khareef class
D: Give BAE an RFI for a clean-sheet design and spend twenty years designing a ship that will become bloated and overly expensive for what it needs to be
E: Go MOTS and buy Venators
As of now my preferences would be as follows.
1: Buy BMT Venators (the 110m one) outfit them with the minimum necessary equipment fit to do their job safely (not like the Type 42s) and allot funds further down the line to give them more comprehensive capabilities (albeit containerised so no necessarily for all five). Note the Venator would be somewhat of a compromise being unable to operate Merlin or land a Chinnok, bringing a new calibre of gun into the logistics chain if unable to ship a Mk.45 as well as being unproven.
2: Buy Absalon or better yet a modified Absalon/Huitfeldt hybrid type vessels. They're in the same ballpark as the Type 26 size wise, posses an innate capability to employ the Mk.45, have the ability to ship a not inconsiderable landing force and equipment as well as the ability to land a Chinook and operate Merlin which no 'Light' combatant is comfortably capable of doing. STANFLEX offers the ability to be fitted for not with or share system modules between the five vessels allowing for MoD cost-cutters to be appeased. Other than their size and in the case of the base Absalon inability to meet fleet speed they would be my first choice.
3: Partner with France on the La Fayette replacement initiative and see where that takes ups (this would represent the highest risk choice) It would however give the possibility if factoring in things that we want that other vessels can't but as ever this is likely to drive up development and procurement costs as the French are unlikely to require or want niche capabilities employed by us.
~Mark.