As a University building, The Octagon is used for a variety of purposes, including examinations, lectures and graduation ceremonies.
The venue also hosts regular music concerts by well-known acts such as Supergrass and DJ Shadow and is transformed into a nightclub by the Technical Services Committee every Friday (during term-time) for the Space club night (previously Frouk (2003-2007) and Loveshack before that); it has hosted the Valve Sound System on several occasions under the promotion of The Tuesday Club. University Balls, an annual fashion show, a biennial 24 Hour Musical, and various other Student Union and Student Societies events also take place. The venue is also used for corporate exhibitions and conferences on a regular basis when free from its academic duties.