The site in Queen Street, currently operating under Base & Barley's sister brand Artigiano, will be rebranded and re-open on 24 February.
It follows the launch of Beer & Barley's first site in Exeter last year and is part of the company's plans to reach 200 locations in 10 years.
Hill said the company was also in negotiations for further sites in 'key cities' which could open this year and next.
"We have spent a long time tweaking the concept and brand identity of Base & Barley and following the launch of our Exeter site we added breakfasts to the menu as well as the availability of our delicious sourdough pizzas via Deliveroo," he said.
"We want to offer an alternative to the standard pizza chains and poor quality takeaways and inject some life into the sector. Following the successful launch of the Exeter site, which will soon hopefully be replicated in Cardiff."
Hill and Keough plan to expand Base & Barley and its sister coffee shop brand Artigiano through a joint venture partnership model. Hill said he was also in talks with 'a number of' of investors who are interested in opening an Artigiano or Base & Barley or both under a dual concept.