Located about 2 miles (3.2 km) southeast of Farnham, Surrey, it is situated on a flood-plain; surrounded by current and previous channels of the River Wey.

[4] Giffard endowed the new abbey with all the land within the parish of Waverley, two acres of meadow at Elstead, and gave the monks permission to cut wood from his woodland at Farnham.

Giffard's successor as Bishop of Winchester, Henry of Blois (younger brother of King Stephen) donated a virgate (30 acres) of land at Wandford and gave further rights at Farnham, with permission to "dig turf, heath, stone and sand".

The abbey was freed from further taxes (tithes) by a papal bull issued by Pope Eugenius III in 1147.

[4] The abbey's endowment was added to by Adeliza of Louvain (wife of King Henry I), who donated the grange at Northolt.

Faramus of Boulogne, nephew of King Stephen, sold the manor of Wanborough to the abbey for 125 marks of silver.

'A History of the County of Surrey' states: "Contrasted with the vast estates of a foundation like Bermondsey [Abbey], such a modest rent roll sinks into insignificance".

The church's construction appears to have carried on throughout the difficult period, as on 10 July 1214 five altars were consecrated by Albin, Bishop of Ferns.

[4] The Annals of Waverley, written by the monks, records notable national and international events from the 10th to the late 13th centuries.

[8] The abbey itself was mostly demolished, with stone reused in local building work[9] including at Loseley Park.

The east service court contains masonry from an earlier building, thought to date from the period just after the dissolution.

[5] The abbey's immediate precinct occupied around 50 acres, with the River Wey forming the southern and eastern boundaries.

In addition to the core abbey complex, the precinct contained buildings such as the brewhouse and features such as fishponds to supply food.

[5] The most substantial remains are that of the vaulted undercroft, or cellar, of the lay brother's refectory, and the walls of the monk's dormitory, which largely survive to roof height.

There also survives the remains of the chapter house and traces of the north and south transepts of the abbey church.

[8] Earthworks in the eastern portion of the abbey's precinct reveal the remains of several fishponds and a "water supply system".

A yew tree (Taxus baccata), which is nearly 500 years old, grows on the ruins of the walls on the southeast corner of the church.

It detailed an "extensive threat to the south half of the estate", affecting exposed footings, masonry and land surface.

Waverley Abbey was featured in Arthur Conan Doyle's classical romance, Sir Nigel.