Ludshott Common and Waggoners Wells (the latter sometimes written with an apostrophe: 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.
Ludshott Common constituted half of the ancient Manor of Ludshott, which dated back to Saxon times. Court baron rolls go back to about 1400.
Today, Ludshott Common is one of the largest remaining areas of heathland in East Hampshire. It lies parallel to and south of the B3002 road between Headley Down to the west and Grayshott to the east. It covers 285 hectares (700 acres) and is designated a Site of Special Scientific Interest (SSSI) and Special Protection Area (SPA) due to the number of endangered species, including woodlark, nightjar and Dartford warbler. There are also a great many spiders and butterflies, including silver-studded blue, grayling and green hairstreak. Adders, grass snakes and sand lizards also inhabit the common. Rabbits are widespread and roe deer may occasionally be seen. The most common trees are Scots pine and silver birch, with some oak.
Ludshott Common owes its present state to the traditional use made of common land by local people: to graze their cattle, pigs, sheep, and ponies and to collect gorse, heather, wood, and bracken for fuel, and for animal bedding and winter fodder. Such uses ceased around the beginning of the 20th century. The land was acquired by the National Trust in 1908 in response to the growing pressure from housing development in Headley Down.