9 x 23m = 207m
12 x 20m = 240m
Not much difference there. People forget that there are different vehicle lengths out there, with SE EMUs mostly 20m and DMUs mostly 23-24m.
The longest UK daytime train is the 11-car Pendolino, which at 265m is longer than 12.350 at 240m.
(I realise you already knew that but others might not).
However the idea of 12-car at 5 minute headways everywhere is a typical Utopian false impression of the South East, unless you're stood at Clapham Junction. 8-car half hourly is a more usual level of service at South East local stations, or 4tph at busier ones but with only 2 of those being useful because it's 2 fast and 2 slow with both arriving at similar times or even being overtaken.