The difference in radius is only 4mm so it will hardly make a difference. I ride a bike designed for 27" with 700c wheels without a problem, as long as you have a brake that can still reach the rim (if you use a brake).
@Booga started
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The difference in radius is only 4mm so it will hardly make a difference. I ride a bike designed for 27" with 700c wheels without a problem, as long as you have a brake that can still reach the rim (if you use a brake).