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@P4SCH
@tallsam It's a Raleigh Quasar (Reynolds 501) early 80's I believe. unfortunately I don't have the original wheels, however I have put a 700c in to take a look and this lines up perfectly with the original front brake. The pads are adjusted very low though so it may have been 27 1/4 originally - I am still trying to find the spec somewhere.
I can see the dropout being an issue but the frame was free so I'm hoping I can sort it.
If anyone has any suggestions on a low budge wheelset £100-150 ish? I will probably run 700c as I'm not too fussed with a brake.