Recovering waste heat from urban infrastructures is becoming increasingly important as the UK strives to decarbonise heat, which remains one of the main challenges in the transition towards net zero. The Bunhill Waste Heat Recovery (WHR) System represents a first of its kind scheme that will recover waste energy from a ventilation shaft of the London Underground (LU) transport network. The system is based upon the installation of a heat recovery heat exchanger that consists of cooling coils and a reversible fan. The coils are connected to a heat pump that supplies low-carbon thermal energy to the Bunhill Heat Network in Central London. One particularly important aspect of the Bunhill WHR system is its ability to operate in a way that not only provides heating to the local heat network, but can also simultaneously supply cooled air to the LU tunnels depending on the operation of the reversible fan. The current paper estimates the potential cooling benefit that could be achieved with the WHR system based upon the development of a mathematical model. The model is able to predict the condition of the coil surface according to air inlet parameters, and this is used to calculate the latent and sensible cooling loads, which are applied to simulate how the system affects the local tunnel environment, with peak temperature reductions of up to 7.2 K being estimated for adjacent stations in 2030. The results from the investigation are presented together with recommendations for further development and future deployment of heat recovery from metro systems, as this technology could be applied across London and elsewhere to deliver significant carbon and cost savings while improving the thermal environment of railway tunnels. Practical Application This work investigates the cooling potential behind a practical project that involves recovering waste heat from the LU network. As electrification leads to an increased deployment of heat pump and district heating systems, waste heat could become a valuable resource for maximising energy efficiency, even more so when additional cooling benefits can be achieved. This paper aims to explore the impacts of cooling on railway tunnels, emphasising how secondary benefits, which are many times overlooked, could be critical to making waste heat recovery economically feasible, maximising its potential as a key technology for decarbonising heat.