>>1533044the 27x1/4 is confusing
the 1/4 means nothing
they're just 27" or 630mm wheels
32mm is the tyre width.
You can probably deviate from that a little bit. Ie, run 28mm or 35mm
But it's worth measuring how much clearance you have in your frame and in your brakes to see if that larger size will fit with a little room spare.
When common 27" tyres are given with a roughly ~1" after the 27" that's generally the width
27 x 1 1/8" in which case the 1 1/8" can be just converted into ~28mm
1 1/4 is ~32mm
etc
I'd suggest you buy Panaracer Pasela. They're quite nice (and nice looking) tyres that come in a variety of 27" sizes. The folding ones are nicer than the wire bead ones but imo they're all decent. And yes you need new 27" tubes too although 700c tubes would stretch fine in a pinch.