Ludshott Common and Waggoners Wells is a National Trust reserve; Ludshott Common is an area of heathland and Waggoners Wells a series of man-made ponds with a connecting stream. The reserve is situated between Grayshott, Bramshott and Headley Down in East Hampshire, England. To the south is the large heathland area of Bramshott Common. Some 415 acres (168 ha) is under the care of the Woodland Trust.

Grayshott is a village and civil parish in the East Hampshire district of Hampshire, England. It is on the Hampshire / Surrey border 4 miles (6.4 km) northwest of Haslemere by road, and 46 miles (74 km) southwest of central London. The nearest rail link is Haslemere railway station.