That building belongs to the University, not the Union, so while there are almost definitely plans to do something with it, they have not been shared with the Union. The University gives information about its planned projects on http://www.southampton.ac.uk/community/building-projects.page or if you call the University on 023 8059 5000 and ask to speak to someone from Estates and Facilities , they’ll be able to tell you – hopefully it’ll be something great!