If you want to keep those original wheels, you are going to be severely limited in tire choices, since 27" is almost extinct. Especially if you want a quality tire, which I assume you do. For what purpose do you want a large tire? A 27×1-1/4 will certainly fit, I think, although there is always variation depending on the manufacturer. (1-1/8 being the original size) I have used the metric equivalent (700×32) on a touring tandem that had a combined rider weight of over 300 pounds plus small panniers and a trailer, riding dirt trails and occasional gravel roads, with no problems. Your biggest limiting factor will be the brake caliper clearance.
You may consider buying a new 700c wheelset. It would be of better quality, if you plan to use the bicycle a lot, and give you way more tire options. Plan B could be to have your current hubs re-laced to 700c rims, strong ones, if you plan to tour or ride gravel routes.
There are members here who own these early ST's. Maybe they will reply with a answer that has been tried out in the real world.
The ST on your bicycle's model designation stands for Sports Tourer, and that is what your bicycle was designed to do.